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Samreen Ahmad · · 1 min readEast Ventures leads $1.1m round of Singapore logistics startup
“Singapore-based e-logistics startup Luwjistik has secured an initial US$1.1 million seed funding led by East Ventures, with participation from Arise – a collaborative fund from MDI Ventures-Finch, and Global Founders Capital,” said a DailySocial report.
Details:
- The startup will use the funds to improve the platform and expand its workforce to go deeper into Singapore, Indonesia, and Malaysia.
- Incorporated just in July, Luwjistik already counts companies such as Ninja Van, J&T Express, and JNE Express as its network partners.
Dive deeper:
- Luwjistik serves as an API bridge between clients and network partners, connecting them directly to the service providers of their choice. One of its founders is Syed Ali Ridha Madihid, who also co-established logistics startup Janio Asia.
- According to Luwjistik, it aims to help clients navigate across borders and face domestic challenges, especially in a rapidly growing, yet highly fragmented region.
Editing by Collin Furtado
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