Waresix aims to improve supply chain efficiency by improving utilization and removing middle men who broker logistics. It provides multi-modal services including land and marine transportation, general cargo handling, and cold storage to cater inter-island freight movement across Indonesia.
Andree said, “Our mission is to simplify logistics and make it accessible for everyone, with this new capital we want to scale and expand our coverage to support the digital transformation of Indonesia’s US$240 billion domestic freight sector. Given our extensive ecosystem, Waresix has the ability to be extremely agile in tackling the Indonesia’s logistics sector.”
“We will continue developing our land transportation and warehousing network to more second-tier cities across the country and make further improvements to the supply chain process. Indonesia is experiencing an infrastructure growth spurt at the moment thanks to the government’s policies, and this spurt will fuel Waresix’s widening coverage as well,” Andree enthused.
The Indonesian government is currently working to close the country’s infrastructure deficit gap via the National Medium-Term Development Plan 2015-2019, which aims to build 2,650 km of roads, 15 airports, 24 seaports, and 3,258 km of rail lines.
Edwin, co-founder said the startup will further invest in R&D to enhance its data analytics capabilities, “Our technology will seamlessly merge data analytics with the logistics infrastructure to give businesses complete control of their goods and maximize our suppliers’ space utilization. This way, Waresix ensures fast and reliable transportation, while keeping supply chain costs low and predictable.”
“In order to achieve our mission to simplify logistics for all. Waresix will also double down on our people investment, particularly those with data science, operations, logistics, finance, design, marketing, and sales expertise,” Edwin added.
The participation of EV Growth in this Series A round marks the third time East Ventures — the fund that has backed Tokopedia and Traveloka, two of Indonesia’s four unicorns — has invested in Waresix. East Ventures also participated in Waresix’s seed funding round in February 2018 and pre-Series A round of US$1.6 million in October 2018.
Susanto said this vote of confidence from East Ventures, led by founding partner Willson Cuaca, carries much significance.
“Like many, I’m inspired by Willson’s dedication and the vision of using technology to improve the life of the average Indonesian and his acumen in identifying how the domestic economy’s pain points can be addressed,” Andree remarked.
East Ventures Managing Partner Willson Cuaca believes that logistics play an important role in Indonesia’s economic growth. He says, “Put simply, the more efficient our logistics are, the more competitive our products become. This is only one of the simplest examples of how logistics affect the nation’s economy. However, there are many things to be improved in Indonesia. The average logistics cost in Indonesia still make up 24% of the nation’s GDP, and 74% of these costs are spent on transportation.”
Cuaca continues,” One way to lower the cost is to build a strong and efficient infrastructure, especially for transportation. The government understands this as well, which is why they have been very aggressive in building the infrastructure the past few years, especially in 2015. East Ventures agrees with the government’s initiatives and wants to support it by investing in logistics leaders like Waresix.”
Waresix is a logistics tech startup that focuses on providing businesses with end-to-end solutions that include transportation and warehousing. Founded in 2017 by engineers from the University of California Berkeley, Andree and Edwin, Waresix is a fast-growing company that has over 20,000 trucks and 200 warehouses on the platform. The company provides a unique solution to businesses looking to overcome Indonesia’s logistical challenges.