Total amount raised
$179 Millions
Latest funding date
04/01/2022
Location
Waresix has successfully raised funds up to the Series B stage, supported by 16 investors. The logistics platform leverages digital technology and AI to enhance efficiency and optimize supply chains.
Keep reading to explore the intricacies of Waresix's fundraising journey and the investors backing this innovative platform.
What Is waresix?
Waresix, founded in 2017 by Andree Susanto and Edwin Wibowo, is a logistics platform based in Jakarta, Indonesia. The company specializes in freight-forwarding, warehouse management, and land transportation, connecting unused warehouse space with users in need.
Leveraging digital technology and AI, Waresix enhances supply chain efficiency and business growth. The platform caters to the booming e-commerce market, providing flexible warehousing solutions for customers, retailers, distributors, and manufacturers.
With a workforce of 251-500 employees, Waresix continues to innovate in the logistics sector, offering end-to-end services that adapt to variable demand.
How Much Funding Has waresix Raised?
- Seed Round
- Amount Raised: $1.6M
- Date: October 2018
- Lead Investors: East Ventures, Monk’s Hill Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To establish initial operations and develop the logistics platform.
- Seed Round
- Amount Raised: Not disclosed
- Date: February 2018
- Lead Investors: East Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further expand the platform's capabilities and market reach.
- Series A
- Amount Raised: $14.5M
- Date: July 2019
- Lead Investors: East Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance technological infrastructure.
- Series A
- Amount Raised: $11M
- Date: January 2020
- Lead Investors: Jungle Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand market presence and improve service offerings.
- Non-Equity Assistance
- Amount Raised: Not disclosed
- Date: April 2020
- Lead Investors: Not disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support operational needs without diluting equity.
- Series B
- Amount Raised: $100M
- Date: September 2020
- Lead Investors: EV Growth
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and expand logistics capabilities.
- Series B
- Amount Raised: $1.9M
- Date: February 2021
- Lead Investors: Not disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further support growth and operational expansion.
- Venture Round
- Amount Raised: Not disclosed
- Date: April 2021
- Lead Investors: MDI Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance technological infrastructure and market reach.
- Series B
- Amount Raised: $50M
- Date: April 2022
- Lead Investors: Tiger Global Management
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and expand logistics network.
Total Amount Raised: $179M
Current Valuation: Not publicly disclosed
Key Investors
- Tiger Global Management
- Details: Tiger Global Management is a prominent investment firm known for its investments in various sectors, including technology and logistics. The firm has a global presence and is recognized for its strategic investments in high-growth companies.
- Investment Focus Areas: Technology, logistics, high-growth sectors
- Notable Investments: Facebook, LinkedIn, Spotify
- MDI Ventures
- Details: MDI Ventures is a corporate venture capital initiative by Telkom Indonesia, focusing on technology investments. The firm aims to support innovative startups and drive technological advancements.
- Investment Focus Areas: Technology, logistics, fintech, e-commerce
- Notable Investments: Kredivo, Waresix
- EV Growth
- Details: EV Growth is a joint venture between East Ventures, Sinar Mas, and Yahoo! Japan Capital, focusing on growth-stage investments in Southeast Asia. The firm supports companies in scaling their operations and expanding their market reach.
- Investment Focus Areas: Technology, logistics, e-commerce
- Notable Investments: Tokopedia, Waresix
- Jungle Ventures
- Details: Jungle Ventures is a Singapore-based venture capital firm that invests in early to growth-stage companies in Southeast Asia and India. The firm is known for its hands-on approach in supporting portfolio companies.
- Investment Focus Areas: Technology, logistics, e-commerce
- Notable Investments: Livspace, Waresix
- East Ventures
- Details: East Ventures is an early-stage venture capital firm that invests in consumer internet, mobile, and SaaS companies in Southeast Asia and Japan. The firm has a strong track record of identifying and nurturing high-potential startups.
- Investment Focus Areas: Consumer internet, mobile, SaaS
- Notable Investments: Tokopedia, Traveloka, Waresix
What's Next for waresix?
Waresix stands at the cusp of significant growth opportunities, buoyed by the recent $1.9 million addition to its Series B funding, bringing the total to nearly $74 million. This financial boost positions the company to expand its logistics services across Indonesia and potentially other Southeast Asian markets, capitalizing on the region's booming e-commerce sector.
With substantial investor confidence, Waresix is well-placed for future fundraising rounds, which could further accelerate its market presence and technological advancements. However, the company may face challenges such as intense competition, regulatory hurdles, and the need for continuous innovation to stay ahead in the dynamic logistics industry.
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