Triplogic Raises Seed Funding from East Ventures to Haul Indonesia’s Logistics Game Into the Future
30 April 2019
QUICK FACTS FOR THE MEDIA
- Triplogic is an Indonesia-based technology startup that provides end-to-end last mile delivery services, including logistics, parcel delivery, fulfillment, and distribution.
- Triplogic’s operations currently cover 61 cities and 1.600 partners across the archipelago of Indonesia.
- East Ventures is an early-stage venture capital firm with a keen eye for game-changing startups and is currently growing its core supply chain ecosystem.
JAKARTA, 30 April 2019 – Triplogic, an on-demand, inter- and intra-city logistics startup, announced today that it has secured an undisclosed amount of seed funding from early-stage venture capital firm East Ventures.
Established by Oki Earlivan with his two co-founders, Rowdy Fatha and Krisna Adiarini, the company offers last mile delivery services and agency distribution, available for retail users, SMEs, and corporate clients.
The company is able to fulfill instant delivery (items will reach its destination within 3 hours) by establishing drop shipping points in SMEs and local shops. These come in the form of smart lockers and drop boxes for parcels to be designated. As the company gains more deliveries, it is able to conduct predictive analyses to strategically select the next location for its drop shipping points.
The company is aggressively adding more partners to grow the network, as it is planning to scale operations to fulfill instant delivery across Indonesia. This will enable them to serve more customers quickly with an extensive network, instead of adding resources slowly as they grow.
Triplogic’s customer base ranges from businesses who regularly deliver packages such as corporate distributors, e-commerce retailers, and online and offline SMEs, all the way to individual users who occasionally ship goods.
For its corporate clients, Triplogic helps principals and distributors to fulfill deliveries by utilizing their trucks and vans to kiosks and local shops at a lower rate while facilitating cash-on-delivery transactions for clients in a trustworthy and transparent manner.
For its SME and retail customers, Triplogic offers same-day and next-day delivery services for both intra- and inter-city demands, which are enabled by the company’s network of drop shipping points throughout Indonesia. Customers can use an app to book and schedule deliveries for batch of goods heading to multiple destinations, all in one journey. Customers who operate offline can also drop packages at the nearby drop points and have the agents schedule a delivery for them.
Triplogic plans on allocating the fresh funds toward product and tech enhancement, and as well as its logistics network expansion by partnering with SMEs to become their drop shipping points. The startup is currently operating in 61 cities across Indonesia, including major urban areas like Jakarta, Bandung, Surabaya, Yogyakarta, and Palembang while partnering with over 1,600 SMEs.
To date, Triplogic has been able to successfully conduct thousands of deliveries per day and has experienced a 34x growth in gross merchandise volume. With this new round of funding, Triplogic aims to expand its partnership network and add more than 15,000 drop points in 2019.
“Triplogic is not just an ordinary logistics company that only does parcel delivery. We are an end-to-end partner that provides logistics, parcel delivery, fulfillment, and distribution services for SMEs. As a Logistics-as-a-Service (LAAS) company, we focus on creating a strong supply chain ecosystem,” explains Oki Earlivan, co-founder and CEO of Triplogic.
“East Ventures has invested in a wide range of companies within the commerce and supply chain ecosystem, and we are extremely excited about how our ecosystem is starting to take shape,” says East Ventures Partner Melisa Irene. “Waresix takes care of the movement of goods from the point they reach a port all the way to distribution centers. Warung Pintar makes fulfillment processes to kiosks more efficient so kiosk owners can earn more. Sirclo works together with brand principals to develop their capabilities in reaching online customers directly and ship goods to their home.”
She added, “All the e-commerce platforms we have invested in creating value by helping customers obtain their products easily, creating a seamless online-to-offline experience; the recent example, Fore Coffee. We realized that Triplogic, as the last mile player, is the missing piece in the puzzle of our core supply chain ecosystem, and it fits perfectly.”
Indonesia is among the top three global markets for logistics in terms of market size and growth, after China and India respectively. The direct market size of the country’s logistics industry was worth US$163 billion in 2015, with inter-city shipping and transportation as the key drivers accelerating growth.
The rise of the logistics industry is also powered by the booming local e-commerce sector, contributing almost US$7 billion in 2017. Today, the estimated number of parcel deliveries is 4 million per day. Triplogic aims to grab a significant portion of daily parcel deliveries in Indonesia.
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About East Ventures
East Ventures is an early stage venture fund focused on Southeast Asia and Japan. Over several years, East Ventures has invested in hundreds of companies in Indonesia, Singapore, Japan, Malaysia, and Thailand. The majority of East Ventures’ portfolio firms have been able to raise follow-on financing rounds.
East Ventures has a strong track record in developing pan-Asia tech-ecosystems and backing startups in their early days. Success cases include companies such as Tokopedia, Traveloka, Mercari, Warung Pintar, Fore Coffee, Disdus (acquired by Groupon), Kudo (acquired by Grab), Tech in Asia, Omise, IDN Media, Ruangguru, Jurnal, Cermati, MokaPOS, ShopBack, CoHive, Pasarpolis and Loket (acquired by Gojek).
About Triplogic
Triplogic is an on-demand logistics startup that provides inter- and intra-city last mile delivery services within Indonesia by making use of latent commercial spaces. It aims to give retail and individual customers quick, end-to-end delivery solutions.