Indonesia’s logistics sector offers huge potential for startups and firms that can disrupt the current trends. Logisly aims to do just that and it has received backing from investors.
Logisly, an e-forwarding startup that connects shippers and logistics services providers based in Indonesia, announced that it has raised seed funding led by Singapore-based SeedPlus.
The startup, co-founded by Roolin Njotosetiadi and Robbi Baskoro, did not disclose financial details of the seed stage funding, but said the round was also backed by Indonesia-based Convergence Ventures and Tokyo-based Genesia Ventures.
Through a managed platform, the startup aggregates supply and demand for trucking. It also provides real-time tracking of shipment and offers trucking firms with a facility to utilise idle or vacant trucks and receive quick payment.
Logisly works with verified transport firms with fleets ranging from colt diesel, wing boxes, trailers, and even flatbeds and reefers.
“Logisly aims to ease the high cost of logistics in Indonesia, by increasing utilisation of trucks and providing more certainty in managing supply chains through a wide network of reliable transport, order transparency, and automation,” the startup said.
According to the International Monetary Fund, Indonesia’s economy, which is currently the world’s 16th largest, is expected to become the fourth-largest by 2050. With a fast-growing economy, the country’s freight and logistic market is also expected to further grow.
Mordor Intelligence said the country’s logistics market is expected to grow at a CAGR of 13 to 15 percent of Indonesia’s gross domestic product by 2024.
“As the populations of Indonesia and the greater Southeast Asia region continue to grow and spend, we believe that there are not only opportunities for growth but also significant efficiency gains to be reaped in the logistics sector,” said SeedPlus partner Tiang Lim Foo.
The potential of Indonesia’s logistics sector became evident immediately after the launch of Logisly. Within three months from its founding, Logisly completed thousands of orders, prompting the company to add more than 5,000 trucks in its network.
With a team of 25, Logisly facilitates the movement of goods from a range of industries, including FMCG, chemicals, containers, construction, and ecommerce purchases. Logisly is headquartered in Jakarta, the capital of Indonesia.