Indonesia-based e-commerce logistics provider Sicepat Ekspres has raised $50m in a series A round that included Barito Teknologi, the corporate venturing vehicle for petrochemical producer Barito Pacific, DealStreetAsia reported yesterday.
The round closed in 2018 and included Kejora InterVest Growth Fund, a joint investment vehicle owned by venture capital firms Kejora Ventures and InterVest Co.
Founded in 2014, Sicepat provides logistics services to online merchants in its home country, assisting in warehousing and courier, air and cargo delivery, and currently helps deliver an average of more than 200,000 packages per day.
Sicepat will use the capital from the round to build out its infrastructure, and intends to increase the number of drop points it maintains around Indonesia’s capital, Jakarta, to 200 by the end of 2019 while expanding elsewhere in the country’s Java region.
Proceeds will also be used to increase the number of vehicles in Sicepat’s fleet and to develop a transport management system to help it monitor its operations. The company had previously secured $3.5m in seed funding from Kejora Ventures in 2017.