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Miguel Cordon · · 1 min readY Combinator-backed Shipper secures $63m in series B funding
Indonesian logistics firm Shipper said it raised US$63 million in a series B round, according to a statement.
More funding details
- Lead investors: DST Global and Sequoia Capital India
- Returning investors: Prosus Ventures, Floodgate, Lightspeed, Insignia Ventures Partners, AC Ventures, and Y Combinator
- Stage: Series B
More company updates
- The company plans to use the funds to enhance its technology and operational capacity and hire more talent.
- Since its establishment in 2017, Shipper has grown to have a presence in over 70 cities in the archipelago, with roughly 2,500 logistics providers, 50 fulfillment centers, and 25,000 online sellers on its platform, according to KrAsia.
- Shipper is primed to capitalize on Indonesia’s still growing ecommerce market, which saw a boost last year due to the Covid-19 pandemic, according to a GlobalData study.
- The startup last year raised an undisclosed amount in its series A round led by Prosus Ventures.
For more coverage of the company, head here. You can also click on the link below to view key details about the company, as well as its funding history.
Editing by Collin Furtado and Jaclyn Tiu
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