Waresix Raise Seed Funding from East Ventures
20 February 2018
JAKARTA, 20 February 2018 — Waresix, on-demand warehousing company that aims to connect businesses to professional warehouse operators, announced earlier today that it had secured an undisclosed amount of seed funding. The investment will be used to accelerate Waresix’s mission to develop its warehouse network, infrastructure, and cloud-based platform.
In Indonesia, the warehouse industry accounts for 15% of the total Logistics Market and last year, it is estimated as much as USD 27 billion. Today, with the rapid growth of the market for e-commerce, the need for on-demand flexible warehousing is expected to grow massively as sellers & manufactures nowadays are opening warehouses at a rapid pace and stashing their goods closer to major population centers so orders can be delivered faster.
Andree, Waresix CEO says, “Distribution and logistic have always been a challenge in Indonesia due to its archipelago structure. Waresix provides a solution for dynamic warehousing strategy that allows our customers (retailer, distributor, and manufacturer) to quickly adapt to variable demand. Our dynamic warehousing offers flexibility so that customers only pay the per-unit cost for the services they use, thus avoiding extra capital expenses.”
The three founders – Andree, Edwin, and Filbert – first met at U.C. Berkeley as engineering students. Occupied with different backgrounds and specialties (business process, logistic-supply chain, and computer science), they saw a huge problem to tackle in logistics.
Andree explained, “The idea to build Waresix first came from our difficulties of having to distribute consumer products across 40 distribution points around Indonesia. As an SME, it was almost impossible to build a massive infrastructure instantly that could handle the project. It requires the combination of outsourcing logistics and in-house model that takes a big number of capital. Problems in operation such as consolidating inventory in multiple places, managing documentation, and billing across different party make the company slows down by the logistics problems instead of focusing on their core business. Waresix solves this problem with Warehouse Management Solution platform where users (SME) can manage their warehouse distribution, inventory, customer orders, and billing cycles just within one app.”
“Our technology utilizes an algorithm to help users find the best warehouse to store their product. The cloud-based software provides access for our client to manage their reservations, access to the operation visibility such as inventory management and shipment, as well as managing contracts and billings across different warehouses,” adds Filbert Hansel, Waresix CTO
According to Edwin, Waresix CFO, the business currently has covered major cities in Indonesia such as Greater Jakarta, Semarang, Yogyakarta, Surabaya, Medan, Lampung, Pekanbaru, Makassar, Balikpapan. “We are here to help our customers who are experiencing the problem for inventory overflow, product distribution, temporary storage, and cross-docking solution,” said Edwin
Willson Cuaca, the Managing Partner of East Ventures, says, “Waresix combines sharing economy and SaaS solution to serve the modern logistics industry. They help business to engage with warehouse provider efficiently and help warehouse or property owner maximize the asset usage. This solution will only work in the market that has significant digital commerce players, and we hope Waresix could capitalize Indonesia market quickly.”