JAKARTA - Logistics startup SiCepat Ekspres had bagged US$ 50 million in Series A funding from Barito Teknologi and Kejora InterVest Growth Fund last year, said the company on Tuesday (23/4).
According to SiCepat, the funding was one of Southeast Asia’s largest Series A funding rounds. The startup also said it would use the fresh funds to increase its logistics capacity to serve more customers.
“Logistics is a strong growing industry to support the rapid e-commerce growth in Indonesia and the retail boom in Southeast Asia in general,” said Kejora Ventures founding partner Sebastian Togelang as quoted by DealStreet Asia.
“With the increasing ease-of-business and online shopping exchange within the region, synergies with Indonesia’s champions are needed sooner than later to ensure our fulfillment capability.”
SiCepat mainly serves e-commerce and online merchant customers and offers couriers, warehouses, and air and cargo delivery services across Indonesia. It also claims to support over 200,000 deliveries every day. (MS)