Waresix raises additional $1.9m Series B and other SE Asia deals

Weekly deal monitors that capture prominent venture capital transactions in Southeast Asia, Greater China, and India.

Indonesian logistics startup Waresix has raised another $1.9 million in Series B funding, bringing the total raised in its latest round to nearly $74 million, according to data from Venture Cap Insights.

The additional Series B funding came from Legend Power Developments Limited, OKO Markets, and Gan Inovasi Solusindo (Gankapital).

Three-year-old Waresix, which focuses on mid-mile logistics service, had earlier received commitments from Temasek subsidiary Pavilion Capita, long-term backer EV Growth, and venture firm East Ventures in its Series B funding.

The firm had raised a total of over $27.1 million for its Series A financing round, which was also backed by EV Growth and Jungle Ventures.

Waresix’s platform connects small and fragmented trucking and transport companies with corporations by offering solutions from order matching to planning, routing, and scheduling. The startup claims to have worked with over 30,000 trucks and 300 warehouse operators across the country. The company’s clients include Unilever and Indofood.

Logistics costs in the archipelago of Indonesia are among the highest in Asia, accounting for as much as 24% of the country’s $1 trillion gross domestic product (GDP), Waresix said. This makes logistics in Indonesia a $240-billion opportunity.

SOUTHEAST ASIA DEAL MONITOR

DealStreetAsia has also put together a table listing out prominent venture capital transactions in Southeast Asia in the week beginning February 8.

Expand Table

StartupHeadquarterInvestment Size (US)Investment StageLead Investor(s)Other Investor(s)Industry
Mosaic SolutionsPhilippines$1 millionPre-Series AGentree FundSoftware
TechNode GlobalSingapore$1 millionSeedKairous CapitalNutty Capital, SPH VenturesMedia
SWAT MobilitySingaporeGlobal BrainTransportation / Mobiity
WaresixIndonesia$1.9 millionLegend Power Developments, OKO Markets, GankapitalLogistics
Onycho PharmaSingapore$960,000Rapid Physiocare, JDTT HoldingsPharmaceutical
GetDoc by Jireh GroupSingapore$506,000KaivestorHealthcare
NusanticsIndonesia$1.5 millionSeries AEast VenturesBiotechnology
Avion SchoolPhilippines$125,000Y CombinatorEdTech

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.