Indonesia-based supply chain software provider Waresix has secured $1.9m from investors including professional services firm Oko Markets to take its series B round to almost $74m, DealStreetAsia reported yesterday.
Legend Power Developments and Gan Inovasi Solusindo (Gankapital) also participated in the tranche, according to data DealStreetAsia sourced from Venture Cap Insights.
EV Growth, a joint venture of conglomerate Sinar Mas, internet company Yahoo Japan and venture capital firm East Ventures, led the round’s first close in September 2020.
Media group Emtek and SoftBank Ventures Asia, a subsidiary of internet and telecommunications group SoftBank, also took part in the original tranche, as did Jungle Ventures, Pavilion Capital and Redbadge Pacific.
Waresix was founded in 2017 and has built a business-to-business e-commerce platform catering to transport service providers and enterprise customers. Users can book its warehouse space and lorry fleet across Indonesia, as well as maritime, temperature-controlled and general cargo transport services.
The company completed a $25.5m series A round in January 2020 when EV Growth Fund and Jungle Ventures added $11m to a $14.5m first close six months earlier that was led by EV Growth and backed by Sinar Mas’s Digital Ventures (SMDV) unit and Jungle Ventures.
SMDV had already participated in a $1.6m pre-series A round for Waresix in late 2018 co-led by East Ventures and Monk’s Hill Ventures, with Triputra Group also investing. East Ventures had provided an undisclosed amount of seed funding a few months before.
Image courtesy of Waresix.
