Regional Logistics Platform Luwjistik Raises US$1.1 Million in Seed Funding Round Led by East Ventures
September 30, 2021
Luwjistik, a Singapore-based startup specializing in e-commerce logistics integration, has secured US$1.1 million (approximately IDR 15.8 billion) in a seed round led by East Ventures, with participation from MDI-Finch’s Arise and Global Founders Capital. The company will use the funds raised to expand its local and regional teams in Singapore, Indonesia, and Malaysia, and to refine its platform, while continuing to extend its reach.
Luwjistik was founded in July this year by logistics and e-commerce veteran, Syed Ali Ridha Madihid, and fellow entrepreneur, Wong Yingming. An SaaS platform, it currently allows logistics players to access close to 30 network partners in Southeast Asia, and make cross-border and domestic movements faster, more efficient and secure.
The pandemic-driven explosion of e-commerce has put mounting pressure on logistics companies to expand their operations.
“Most have been unable to travel to build out networks and relationships on the ground. Many also rely on legacy processes, and are not able to build out their technological capabilities quickly enough to keep up with demand,” said Mr. Madihid, CEO & Co-founder of Luwjistik.
With Luwjistik’s SaaS platform, all it takes is a single API integration for clients to be bridged to the partners of their choice, and to follow their transactions through to completion. Clients can connect to service providers in Singapore, Malaysia, Indonesia, the Philippines, and Thailand, including Ninja Van, J&T Express and JNE Express. Clients who have already signed up with the platform include DHL eCommerce and YCH Group Pte Ltd.
The solution is:
- Seamless: Clients get direct access to network partners across Southeast Asia covering Customs Clearance and Last Mile Delivery, both domestically and regionally. They can select the service providers that best meet their needs
- Standardized: Standardized documentation and workflows, as well as cost-transparency, mean clients can navigate cross-border movements with ease and confidence
- Smart: A single API integration makes getting on the platform quick and simple, and allows for fast, secure and efficient data management; direct messaging, contract signing, document sharing and payment processing all take place within the platform
“What we have done here is combine technology with relationships and knowledge built over years of work in the sector to connect the dots across supply chains. It will help our clients navigate cross-border and domestic challenges, especially in this rapidly growing but highly-fragmented region.”
“Ultimately, at a time that the logistics sector needs to quickly ramp up and digitalize to keep up with demand, Luwjistik provides a fast, efficient, and secure technological solution, and one that will help them grow,” added Mr Madihid.