<article>Indonesia-based on-demand (SaaS) warehouse service provider <a href="https://www.dealstreetasia.com/tag/Waresix">Waresix</a> has announced the closing of a $1.6-million pre-Series A round of funding led by <a href="https://www.dealstreetasia.com/tag/East-Ventures">East Ventures </a>and <a href="https://www.dealstreetasia.com/tag/monk%E2%80%99s-hill-ventures/">Monk’s Hill Ventures</a>.</article>

Indonesia-based on-demand (SaaS) warehouse service provider <a href="https://www.dealstreetasia.com/tag/Waresix">Waresix</a> has announced the closing of a $1.6-million pre-Series A round of funding led by <a href="https://www.dealstreetasia.com/tag/East-Ventures">East Ventures </a>and <a href="https://www.dealstreetasia.com/tag/monk%E2%80%99s-hill-ventures/">Monk’s Hill Ventures</a>.
Also participating in the round were SMDV and Triputra Group, according to an official release.
Founded in 2017, Waresix describes itself as a one-stop service provider, which allows customers to manage their warehouse distribution, inventory, customer orders, and billing cycles.
The company provides warehouse services by connecting businesses and individuals in need of warehouse space with professional warehouse operators. It has a marketplace feature through which companies can quickly search through a wide range of warehousing options and book a warehouse space in less than 24 hours.
Waresix currently covers 26 cities, including Greater Jakarta, Semarang, Surabaya, Balikpapan, Samarinda, Banjarmasin, Makassar, Pekanbaru and others across the Indonesian archipelago. The company’s marketplace includes over 75 professional warehouse operators that handle general cargo, retail fulfilment, and cold storage.
The new funding gives Waresix more firepower to tap into Indonesia’s burgeoning logistics market, which is estimated to be worth $240 billion and growing 14 per cent annually.
The company said it will use the fresh capital to continue to leverage its technology and data capabilities to drive increased efficiency for the overall warehousing industry. It will develop new products and features for both warehouse customers and providers to better meet their storage needs.
The new funding comes only seven months after Waresix raised an undisclosed amount of seed funding from East Ventures.
“The past 7 months have convinced us even more that the team has the capability to champion the market, and we are excited to see more nationwide breakthrough driven by Waresix,” said East Ventures managing partner Willson Cuaca.
The growth of e-commerce in Indonesia, coupled with the logistics challenges in the country, has prompted considerable investment into a number of logistics startups.
Early in February, Jakarta-based logistics solutions provider Etobee was said to have closed a post-Series A bridge round of $3.5 million, while Singapore-based Ninja Van managed to raise an $85-million Series C funding to consolidate its presence across its operating markets including Indonesia.
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The company said it will use the fresh capital to continue to leverage its technology and data capabilities to drive increased efficiency for the overall warehousing industry.

On-demand warehouse startup Waresix bags $1.6m funding led by East Ventures, Monk's Hill

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On-demand warehouse startup Waresix bags $1.6m funding led by East Ventures, Monk's Hill

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