Exclusive: Singapore’s Luwjistik onboards Trihill Capital in seed extension round

Luwjistik, a Singapore-based unified platform for logistic providers, has extended its seed funding round after recently securing investment from new backer Trihill Capital.

Investors from the startup’s US$1.1 million seed round in November 2021, which include East Ventures, Arise Fund, and Global Founders Capital, have exercised their pro rata rights and also topped up their stakes in the extension round, according to Luwjistik executives.

The size of the round, however, was undisclosed.

Luwjistik co-founders (from left) Syed Ali Ridha Madihid and Wong Yingming / Photo credit: Luwjistik

The total proceeds from its seed funding will be invested in more resources, particularly for engineering and product, said Syed Ali Ridha Madihid, Luwjistik’s co-founder and CEO, in an exclusive interview with Tech in Asia.

Luwjistik has a team of close to 30 staff working remotely across Indonesia, Malaysia, Singapore, and the Philippines. It serves 70 logistics partners in 10 countries and 12 institutional clients.

The company is currently focused on catering to the Southeast Asian logistics market, which is expected to be worth US$ 55.7 billion in 2025. Driven by ecommerce, the market’s compound annual growth rate is expected to hit 5.5% from 2017. However, Luwjistik’s founders say that a global expansion is also on the cards.

Founded in 2021, Luwjistik offers a software-as-a-service platform which provides API integration for logistics companies to connect with partners (last-mile, first-mile, customs clearance service providers) of their choice in overseas markets, and follow each transaction to completion.

For example, the platform will allow logistics providers in Indonesia that are looking to ship to Singapore, Malaysia, and Vietnam to link up with last-mile delivery companies in the respective countries, which would then complete the delivery process.

“Through a single unified API gateway, any client of ours can connect, design, and build their own supply chain of cross-border ecommerce through our platform,” says Madihid. His previous venture, Janio, also operates in the cross-border logistics sector.

First-mover advantage

Part of Luwjistik’s unique proposition is its asset-light model, which is rare among conventional logistic players, according to Trihill Capital investor Valerianus Ian Sulaiman. That said, a few startups like Waresix and Janio have also adopted this more scalable approach.

“Luwjistik does not want to be a provider – they don’t want to invest in and operate assets. Rather, they want to orchestrate the supply chain,” Sulaiman explains.

While logistics has long been a crowded space in Southeast Asia’s tech scene, it tends to be made up of players that are part of the supply chain, observes Madihid. Luwjistik claims to be the first to not only develop technology to enable these logistics companies and increase their operational capabilities, but also to encourage them to work with one another.

“We are somewhat creating a global virtual community or alliance for logistics providers to form partnerships or collaboration that they may have never envisioned. We believe that this collaborative community will change how the industry works and make it more sustainable in the long run,” the CEO says.