BEST DIGITAL NEWS START-UP, WAN-IFRA 2019 GOLD AWARD

Indonesia's Logisly bags US$6m in Series A round to scale operations

Indonesia's Logisly bags US$6m in Series A round to scale operations

2 -min read
Listen to this article
2 -min read
Listen to this article

INDONESIA-BASED logistics platform Logisly has raised US$6 million in a Series A round led by Monk's Hill Ventures, to scale operations in the country.

The fresh funds will be used to grow its sales and vendor acquisition team, in a bid to strengthen its network of shipping and trucking providers.

Co-founder and chief executive Roolin Njotosetiadi said: "We are focused on digitising the logistics industry in Indonesia, which remains largely fragmented. The industry continues to face a plethora of challenges such as fragmented ecosystem players, high logistics costs, manual processes and unreliable drivers and transporters."

Logisly's platform, which connects shippers with trucking providers, utilises an algorithm to aggregate supply and demand for trucking. Through this, it aims to provide shippers with trucks powered by real-time tracking and digital proof-of-deliveries, while offering trucking providers a facility to utilise idle or vacant trucks and receive quick payment.

This is in hopes of optimising the utilisation of trucks and providing more certainty in managing supply chains, said Mr Njotosetiadi. The company adds that both shippers and trucking providers can use its platform as a single point of contact for orders, payment and tech support.

Logisly currently serves more than 300 corporate shippers from various sectors, including fast-moving consumer goods, chemicals, construction and e-commerce. This includes Unilever, JD.com's Indonesian subsidiary JD.ID, Haier, Grab and Maersk. With a network of more than 40,000 trucks, Logisly provides shippers with 100 per cent availability of cost-efficient and reliable trucks to meet the demands of shippers.

Justin Nguyen, partner at Monk's Hill Ventures, said: "The team's approach of a tech-driven marketplace combined with a lean and obsessively efficient operations centre provides instant value to both truckers and shippers which sets them apart in this US$100 billion-plus race."

BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes