Indonesia’s logistics industry is very fragmented, with several large providers operating alongside thousands of smaller companies. This means shippers often have to work with a variety of carriers, driving up costs and making supply chains harder to manage. Logisly, a Jakarta-based startup that describes itself as a “B2B tech-enabled logistics platform,” announced today it has raised $6 million in Series A funding to help streamline logistics in Indonesia. The round was led by Monk’s Hill Ventures.
This brings the total Logisly has raised since it was founded last year to $7 million. Its platform digitizes the process of ordering, managing and tracking trucks. First, it verifies carriers before adding them to Logisly’s platform. Then it connects clients to trucking providers, using an algorithm to aggregate supply and demand. This means companies that need to ship goods can find trucks more quickly, while carriers can reduce the number of unused space on their trucks.
Co-founder and chief executive officer Roolin Njotosetiadi told TechCrunch that about “40% of trucks are utilized in Indonesia, and the rest are either sitting idle or coming back from their hauls empty handed. All of these result in high logistics costs and late deliveries.”
He added that Logisly is “laser focused on having the largest trucking network in Indonesia, providing 100% availability of cost-efficient and reliable trucks.”
Logisly now works with more than 1,000 businesses in Indonesia in sectors like e-commerce, fast-moving consumer goods (FCG), chemicals and construction. This number includes 300 corporate shippers. Logisly’s Series A will be used on growing its network of shippers and transporters (which currently covers 40,000 trucks) and on product development.
The startup’s clients include some of the largest corporate shippers in Indonesia, including Unilever, Haier, Grab, Maersk and JD.ID, the Indonesian subsidiary of JD.com, one of China’s largest e-commerce companies.
Other venture capital-backed startups that are focused on Indonesia’s logistics industry include Shipper, which focuses on e-commerce; logistics platform Waresix; and Kargo.
via https://AiUpNow.com November 2, 2020 at 08:08PM by Catherine Shu, Khareem Sudlow,
