Biteship, an Indonesia-based e-commerce logistic solution startup with a focus on empowering small-medium enterprises (SMEs) and enterprises, has secured an undisclosed amount of seed funding co-led by East Ventures and Beenext.
“We are happy to partner with East Ventures and Beenext for this investment round. This investment will accelerate our mission of integrating better technology for logistic solutions to serve our customers,” said Mirsa Sadikin, Co-Founder & Chief Executive Officer of Biteship.
Biteship was founded by Mirsa Sadikin, Co-Founder & Chief Executive Officer and Afra Sausan, Co-Founder & Chief Marketing Officer who realized there is a huge technology gap between Shipping Providers (couriers) and Warehouse Providers in enabling technology solutions for SMEs and enterprises in doing commerce. Biteship simplifies the complex process of shipping while empowering all the stakeholders in the supply chain through the 4PL approach. Biteship creates a ready-to-connect Application Programming Interface (API) that acts as one gateway to access third-party logistics (3PL) and Warehouse Providers in easing commerce operations.
The Indonesian freight and the logistic market were valued at US$ 81.3 billion in 2020 with a 9.2% of annual growth. It is also boosted by how the parcel delivery service is growing during the pandemic. Seeing the big market and unsolved gap in the logistics industry, Biteship hopes to serve as the solution in connecting more 3PLs to Indonesian sellers in helping them to provide a seamless experience.
Today, Biteship has more than 30 3PLs in its network and continues to grow in providing Instant Services, Same Day Services, Next Day Services, Regular Services, and Cargo Services into the ecosystem. Moreover, Biteship has connected with hundreds of businesses in Indonesia across industries, including food & beverage, fashion, healthcare, and many others.
“We are proud to be the first platform that approaches supply chain product development from a developer’s perspective. We believe that every single touch point of the supply chain product development process should be carefully written for future improvements. With better programming, we can have a better operation that leads to a greater experience for businesses and their customers,” said Mirsa.
Biteship has recorded 8x of growth in Q1 2022, compared to Q1 2021; while still maintaining profitability with competitive margins. Biteship will allocate the fund to expand its team in sales, marketing, operation, product, and engineering teams to ensure better operational excellence and increase adoption. Biteship will continue to expand its technology capabilities, enabling deeper integration with our partners across Indonesia, while bolstering our logistic e-commerce solutions.
“We are glad to welcome Biteship into the East Ventures family. We believe in Biteship’s mission to provide better logistic solutions from the developers’ points of view, which would lead to efficiency through technology usage and the integration of 3PL networks. We believe this investment will boost Biteship in continuing to hone its services to tackle the logistics gap in the market, providing a direct impact on the growth of commerce industries in Indonesia,” said Devina Halim, Principal at East Ventures.
“Biteship represents a 2022 team, theme and company – scrappy, capital efficient, and highly scalable in a massive TAM. We have known the team for years, seen how they have built the company and are excited to be a partner to their journey,” said Dirk van Quaquebeke, Managing Partner at BEENEXT.