China’s SF Express, Indonesia’s Triputra Group and e-commerce unicorn Tokopedia have jointly set up a last-mile delivery platform, Anteraja.id, with an initial investment of $50 million.
PT Adi Sarana Armada Tbk (ASSA), a Triputra Group company, holds a 55 per cent stake in the joint venture, with Tokopedia (25 per cent) and SF Express (20 per cent) holding the rest, ASSA CEO Prodjo Sunarjanto told DEALSTREETASIA.
While the JV was created in July 2018, Anteraja started trial operations recently in March 2019. The stakeholders have made an initial investment of $50 million but are expected to inject as much as $200 million to ramp up operations, according to Prodjo.
“Since e-commerce is growing exponentially, last-mile delivery will be playing an important role to support its growth. Hence our group is setting up a JV to tap these opportunities since Indonesia is a big market for logistics,” he said.
Anteraja.id plans to cater to online retail and e-commerce players but will not limit itself to working with Tokopedia. It will also offer B2B services, including e-fulfilment and smart locker services.
ASSA provides transportation services that include vehicle rental for corporations, logistics, helicopter services, and sales of used cars.
SF Express is a Chinese delivery services company based in China. It is the second largest courier company in the country and provides domestic and international express delivery. It has transported around 2 million tonnes of cargo since its inception.