Indonesian logistics startup Waresix raises $100m from Softbank Ventures Asia, others

Indonesian logistics startup Waresix announced on Thursday it had closed a $100 million fundraising round from investors including Softbank Ventures Asia and Indonesian conglomerate Emtek (Elang Mahkota Teknologi).

The two-year-old firm offers trucking, warehousing and logistics technology services to companies trying to navigate Southeast Asia’s largest economy, whose 17,000 islands are sprinkled across an area bigger than the European Union.

The World Bank estimates logistical costs swallow up around a quarter of Indonesia’s gross domestic product.Waresix, whose clients include Unilever and Indofood, said it has been profitable on a net income basis since June 2019 and that its growth had continued […]

Source: www.dealstreetasia.com

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