Waresix Raises $1.6 Million Pre-series A Funding

Waresix, an Indonesian logistics-tech, secured US$1.6 million in Pre-series A round of funding led by East Ventures and Monk’s Hill Ventures. Also participating in the round are SMDV and Triputra Group.

Indonesia’s burgeoning logistics market is estimated to be worth US$240 billion and growing 14 percent annually. Of this market, warehouse needs and fulfillment account for 16% of economic activity, equal to a total market size of over US$30 billion. This segment is expected to grow substantially alongside Indonesia’s rapidly growing e-commerce sector.

Waresix currently covers 26 cities, including Greater Jakarta, Semarang, Surabaya, Balikpapan, Samarinda, Banjarmasin, Makassar, Pekanbaru and others across the Indonesian archipelago. The company’s marketplace includes over 75 professional warehouse operators that handle general cargo, retail fulfillment, and cold storage.