East Ventures and Monk’s Hill Ventures lead the latest funding round for Waresix, an on-demand warehouse service marketplace
Waresix CEO Andree Susanto
Indonesia-based on-demand warehouse service platform Waresix today announced that it has closed a US$1.6 million pre-Series A funding round led by venture capital firms East Ventures and Monk’s Hill Ventures.
SMDV and Triputra Group also participated in the funding round, which followed a seed funding round that the company has raised in February.
“The past seven months has convinced us even more that the team has the capability to champion the market,” said East Ventures Managing Partner Willson Cuaca in a press statement.
Waresix plans to use the new funding to improve warehouse efficiency through technology and data solutions, expand business offerings, and hire new staffs.
Founded in September 2017 by CEO Andree Susanto, CTO Filbert, and CFO Edwin, the startup provides an online marketplace to connect businesses and individuals in need of warehouse space with professional warehouse operators.
It also provides warehouse services for overseas customers who are looking to distribute their products to Indonesia, as well as for “unexpected, last-minute situations.”
The Waresix platform enables customers to manage their warehouse distribution, inventory, customer orders, and billing cycles.
The startup currently covers 26 cities in Indonesia and is working with over 75 professional warehouse operators that handle general cargo, retail fulfillment, and cold storage.
Image Credit: Waresix
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