Indonesia-based logistics startup Waresix has raised about $27.4 million from existing investors, according to regulatory filings accessed by DealStreetAsia’s DATA VANTAGE.
Waresix’s Singapore holding company, Tiga Beruang Kalifornia Pte. Ltd., allotted new preference shares on July 31 to several existing shareholders, including Granite Asia, Jungle Ventures, and East Ventures, filings with Singapore’s Accounting and Corporate Regulatory Authority (ACRA) showed.
Granite Asia subscribed for 194,404 preference shares worth about $18 million, while Jungle Ventures—via its two investment funds Jungle Leaders I and Jungle Ventures IV VCC—each subscribed for 18,144 shares for approximately $1.68 million. East Ventures, via Sun Tzu Tech, subscribed for 64,801 preference shares valued at nearly $6 million.
The total capital raised from the four investors amounts to approximately $27.4 million.
The newly allotted shares were issued at an implied price of $92.57 apiece, according to DealStreetAsia’s calculations based on the filings. This is lower than the implied $99.67 apiece reflected in German development finance institution DEG’s investment in June 2025, according to ACRA records. The reason for the difference in pricing could not be immediately determined.
DealStreetAsia has reached out to Waresix for comment.
Post-exercise, Jungle Ventures holds an 8.89% stake, while Granite Asia holds 6.03%. East Ventures holds the largest shareholder via its multiple funds, including Moluccas II Ltd (7.77%), East Ventures (7.34%), and Bali I Limited (5.66%).
Waresix top shareholder
Founded in 2017 by Andree Susanto and Edwin Wibowo, Waresix connects shippers and businesses with available warehouses and trucks. It offers solutions for transportation by land or sea, as well as cold storage and general cargo handling.
The company has previously attracted backing from investors including East Ventures, Jungle Ventures, Granite Asia, Temasek, EMTEK, Endeavor Catalyst, and DEG. It has raised a total of $197.21 million in equity funding since its establishment.
The latest fundraising comes months after Waresix’s logistics subsidiary PT BSA Logistics Indonesia (WBSA) made its stock market debut in April. It raised 302.4 billion rupiah by offering 1.8 billion new shares, equivalent to 20.75% of its enlarged capital.
At the listing, Waresix Group President Eric Dharma said BSA was chosen for the IPO because it contributed the largest share of the group’s revenue out of its total five subsidiaries. He added that Waresix intends to continue expanding its logistics capabilities through acquisitions to fill gaps in its service chain.
