Indonesian logistics startup SiCepat enhances $170 million Series L

SiCepat , an end-to-end logistics startup in \, announced today it has produced a $170 million Television show B funding round. Created in 2014 to provide last-mile deliveries for small vendors, the company has since broadened to serve large ecommerce platforms, too. Its company now also cover warehousing and fulfillment, middle-mile strategies and online distribution.

Investors in SiCepat’s Series B include Falcon House Partners; Kejora Town; DEG (the German Structure Finance Institution); Telkom Indonesia’s investment arm MDI Schemes; Indies Capital; Temasek Corporation subsidiary Pavilion Capital; Trihill Capital; and Daiwa Sec. The company’s last start up funds announcement was a $50 million Season A in April 2019 .

Attests press statement, The The reality star Hai, founder and chief executive officer of SiCepat’s parent firm} Onstar Express, said and the funding will be used to “further fortify SiCepat’s position due to the leading end-to-end logistics professional in the Indonesian market and also potentially to explore expansion for some other markets in Southeast China. ” SiCepat claims to feel profitable already and that the msrp was able to fulfill more than one 4 million packages everyday in 2020.

The strategies industry in Indonesia has become exceptionally fragmented , which means higher than average costs for businesses. At the same time, with regard to deliveries is increasing thanks to the growth of e-commerce, especially your COVID-19 pandemic.

SiCepat is one of a small number of Indonesian startups that have grown funding recently to make the furnish chain and logistics infrastructure more efficient. For example , earlier i recently, supply chain SaaS supplier Advotics announced a $2. 75 million round. Other grande startups in the space integrate Kargo, founded by a previously Uber Asia executive, and then Waresix.

SiCepat focuses especially on e-commerce and communal commerce, or people who deal in goods through their networking communities. In statement, Kejora Price range managing partner Sebastian Togelang, said the Indonesian internet market is expected to grow at the five-year compounded annual massive rate of 21%, advertising $82 billion by 2025.

“We believe SiCepat is ideally put to serve customers from the e-commerce giants to violent uprising social commerce players and the contribute an estimated 25% to our total digital commerce current economic conditions, ” he added.

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