<article>Indonesia-based logistics startup Sicepat Ekspres had raised $50 million in Series A funding last year from Barito Teknologi and Kejora InterVest Growth Fund, the company disclosed on Tuesday.</article>

Indonesia-based logistics startup Sicepat Ekspres had raised $50 million in Series A funding last year from Barito Teknologi and Kejora InterVest Growth Fund, the company disclosed on Tuesday.
The startup said the funding was one of the largest Series A rounds recorded in the region.
Sicepat caters to e-commerce and online merchant requirements and offers couriers, warehouses and air and cargo delivery across the archipelago. It claims to support more than 200,000 package deliveries on a daily basis in Indonesia.
Sicepat plans to use the newly-secured funding to increase its logistics capacity to serve a wider number of customers.
&#8220;Logistics is a strong growing industry to support the rapid e-commerce growth in Indonesia and the retail boom in Southeast Asia in general. With the increasing ease-of-business and online shopping exchange within the region, synergies with Indonesia’s champions are needed sooner than later to ensure our fulfillment capability,&#8221; said Kejora Ventures founding partner Sebastian Togelang.
The startup had previously raised seed funding of $3.5 million from Kejora Ventures in 2017.
Barito Teknologi is the investment arm of Indonesia’s largest petrochemical group Barito Pacific. The investment in Sicepat is its first direct investment into a technology startup. Barito Teknologi is also a limited partner in Kejora&#8217;s funds.
Kejora InterVest Growth Fund is a joint fund between Kejora Ventures and South Korea&#8217;s venture capital firm InterVest Co. InterVest usually invests in early-stage startups focusing its business in healthcare, biotechnology, machinery, and telco solutions.
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Logistics startup Sicepat plans to use the newly-secured funding to increase its capacity to serve a wider number of customers.

Indonesia's Sicepat bags $50m in Series A funding from Barito, Kejora Intervest

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Indonesia's Sicepat bags $50m in Series A funding from Barito, Kejora Intervest

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