Wednesday, Aug 17, 2022
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Indonesia-based logistic startup Shipper secures $63 mn funding for expansion

Shipper funding_IFM_Image
The funding round was led by DST Global and Sequoia Capital India

Indonesia-based logistics startup Shipper secures $63 million in its Series B funding round, media reports said. The funding round was led by DST Capital and Sequoia Capital India. The startup will use the funds to expand its network, product development and also to hire new employees.

Other investors that also participated in the funding round include Prosus Ventures, Floodgate, Lightspeed, Insignia Ventures, AC Ventures and Y Combinator.

Shipper co-founder Budi Handoko told the media, “We started Shipper four years ago as a result of our personal pain points in packing and delivering packages as online sellers. Building Shipper, we have always approached the problem from the angle of a micro, small and medium-sized business because that is who we are. We are excited to play our role in further empowering this segment and strengthening the nation’s logistics ecosystem.”

In September, another Indonesia-based logistics startup Waresix has raised around $100 million in its latest fundraising round. Investors who participated in the funding round include Softbank Ventures Asia, Pavilion Capital, Redbadge Pacific and Indonesian conglomerate Emtek. Existing investors such as EV Growth and Jungle Ventures also took part in the funding round for Waresix.

With regard to the funding, Andree Susanto, chief executive officer at Waresix told the media, “We are excited to on-board a group of high-quality long-term investors and partners that have committed to support Waresix in our journey to be the new engine for trade and commerce growth in Indonesia. The capital will be invested to develop the most robust logistics technology infrastructure in South East Asia, and further build out our world-class team to help us seize a large market opportunity.”

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