Indonesian logistics startup Waresix secures $1.6m funding

Co-founder and CEO Andree Susanto / Photo credit: Waresix

Indonesia’s US$240 billion logistics market is said to be growing by double digits per year. Tapping into that opportunity is Waresix, a startup that aims to improve warehouse services in Southeast Asia’s biggest economy.

Waresix today announced that it has obtained US$1.6 million in pre-series A funding from investors led by East Ventures and Monk’s Hill Ventures.

Founded in 2017, the startup built a marketplace that connects businesses and individuals in need of warehouse space with warehouse operators. The site allows users to book a wide range of storage options in less than 24 hours. It also provides cross-border warehousing services for overseas customers looking to distribute goods in Indonesia.

Waresix covers 26 cities across the archipelago. It has partnered with more than 75 warehouse operators that handle general cargo, retail fulfillment, and cold storage.

Warehouse and fulfilment needs account for 16 percent of Indonesia’s logistics market – equal to a market size of over US$30 billion, according to market estimates. This segment is expected to expand significantly alongside the country’s ecommerce sector.

“As the ecommerce industry grows at extremely fast pace, it’s important to ensure that movement of goods is as efficient as possible – which makes the warehousing industry an inevitable part of supply chain optimization,” explains East Ventures managing partner Willson Cuaca.

SMDV and Triputra Group were the other investors that participated in this latest fundraise, which comes months after Waresix raised its seed round.