Indonesian logistics startup Shipper closes $63m Series B round

Indonesia-based digital logistics provider Shipper has snagged $63 million in its Series B round led by DST Global Partners and Sequoia Capital India.

Existing investors Prosus, Floodgate, Lightspeed, Insignia Ventures, AC Ventures, and Y Combinator also joined the round. 

The Series B financing comes less than a year after Shipper secured its Series A financing in June 2020. Previously, DealStreetAsia had reported that the firm was in talks with investors for its Series B round, and would likely close in the first quarter of 2021. 

Shipper’s co-founder and COO Budi Handoko said the company will invest in technology development and expand its networks in Indonesia. Handoko added the funding will also be used to add to the team. 

Launched in 2017, Shipper provides fulfillment and delivery services through its digitally managed network of fulfillment centers, delivery partners, and retail points, to e-commerce businesses. 

Currently, Shipper has a presence in 30 cities and has 161 warehouses across Indonesia. Handoko said the firm will use the proceeds for the organic expansion of its operations.

The logistics industry has seen a surge in demand banking on e-commerce growth. Indonesia’s e-commerce GMV value is predicted to grow from $32 billion in 2020 to $83 billion in 2025, according to Google, Temasek, and Bain & Co in 2020.

Meanwhile, the logistics market revenue in Indonesia is valued at $240 billion in 2021, according to ResearchAndMarkets.com. Although there are more than 2,500 companies in Indonesia, the logistics cost is the highest in the archipelago compared to other countries in the region. 

In October 2020, Shipper acquired the warehousing solutions company TNKapital-backed Pakde and local delivery startup Porter. 

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.

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

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  • 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. 
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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.