Jakarta, Indonesia-based B2B logistics startup, Logisly has bagged US$ 6M in a Series A funding round held in November 2020, led by Monk’s Hill Ventures.
The latest round brings the total funding raised to date by Logisly to US$ 7M.
Proceeds from the funding round will be used by the startup to augment its operations in Indonesia by increasing the members in its sales and merchant acquisition teams. It will also be utilized in product development and fortifying its network of shippers and transporters.
Logisly, founded in 2019 by Roolin Njotosetiadi and Robbi Baskoro, connects transporters with trucking companies from a network of reliable and verified business carriers. Logisly’s platform enables shippers and trucking providers to use it as a solitary point of contact for orders, payment, tracking status, receipt of road mail and other support.
Roolin Njotosetiadi said that they are entirely focused on digitizing the logistics industry in Indonesia, which to date remains largely uneven. The industry continues to face a glut of problems such as fragmented network players, high logistics expenses, manual processes and untrustworthy drivers and transporters. She quoted, “40% of trucks are utilized in Indonesia, and the rest are either sitting idle or coming back from their hauls empty-handed. All of these result in high logistics costs and late deliveries.”
Logisly’s objective is to digitize the truck ordering process in order to reduce the high cost of logistics in Indonesia. It is achieving the same by increasing the utilization of trucks and providing more efficient ways of managing supply chains through an extensive network of steadfast transport, order transparency and automation. Logisly has partnered with over 1,000 businesses across Indonesia since its inception. This comprises almost 300 corporate shippers from different sectors, including fast-moving consumer goods, chemicals, construction, and e-commerce. Its clients include Unilever, JD.ID, Haier, Grab, TaniHub, DHL and Maersk, amongst others. With a network of more than 30,000 trucks, the startup provides shippers with full-time availability of affordable and reliable trucks to meet their demands.
About Monk’s Hill Ventures
Monk’s Hill Ventures is a venture capital firm investing in early-stage tech companies, mainly Series A, in Southeast Asia. It was founded in 2014 by entrepreneurs Peng T. Ong and Kuo-Yi Lim. Supported by recognized investors and family offices globally, MHV works with talented entrepreneurs to leverage technology to improve the lives of millions of people in the region.
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