Indonesian logistics startup SiCepat bets on web of affiliates to deliver the goods

Photo: SiCepat Ekspres’s LinkedIn page

When Indonesian logistics company SiCepat Ekspres declared itself a soonicorn — a startup with a potential to be valued at $1 billion or more — after closing a $170 million funding round in March, the announcement raised some eyebrows.

Although it had previously raised over $100 million in funding, the last-mile delivery company had hardly been seen as a contender to become the archipelago’s next unicorn. 

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