Indonesian logistics startup bags seed funding from East Ventures

On-demand logistics startup Triplogic announced that it has raised an undisclosed amount of seed funding from early-stage venture capital firm East Ventures.

A TripLocker in a local shop used as a dropshipping point / Photo credit: Triplogic

The Indonesia-based company, which operates through an app for booking and scheduling deliveries, said it will use the fresh investment to further develop its product and technology.

It’s also looking to expand its logistics network by teaming up with small and medium-sized enterprises in the country that are willing to become dropshipping points.

Triplogic relies on its dropshipping points – which come in the form of lockers and dropboxes – in local shops and other SMEs to fulfill its instant delivery service, which usually takes three hours to complete. At present, the company has partnerships with over 1,600 SMEs and plans to add more than 15,000 drop points this year.

The startup is “aggressively” growing its network as it works to scale operations in its home market, according to its statement. Triplogic offers its services in 61 cities across the Southeast Asian archipelago, including major urban areas such as Jakarta, Bandung, and Palembang.

Triplogic claims to have grown 34x in gross merchandise volume since being founded in 2017 and aims to capitalize on Indonesia’s rising ecommerce sector. Its competitors include local startup Deliveree and ride-hailing giant Go-Jek‘s logistics services.