- Logisly was funded $6 million by Monk’s Hill Ventures
- The startup aims to digitize logistics operations in Indonesia
- Logisly is working on providing cost-effective and reliable truck services
Logisly, a B2B tech-enabled logistics platform, has raised $6 million through Series A funding. Monk’s Hill Ventures led this round of funding. The Jakarta-based startup raised $7 million since its launch last year. Indonesia’s logistics industry is very fragmented. The large providers operate alongside several smaller companies. Logisly aims to help streamline logistics in Indonesia.
What does Logisly do?
To streamline the logistics operation, Logisly aims to digitize the entire system. This includes the process of ordering, managing, and tracking trucks. It begins with verifying carriers before adding them to Logisly’s platform. Once added, it connects clients to trucking providers. This is done automatically by algorithms to aggregate supply and demand. As a result, companies shipping goods are benefited as they can find trucks quickly. At the same time, it reduces the number of unused space on their trucks.
Logisly’s co-founder and CEO, Roolin Njotosetiadi, found that only 40% of trucks are utilized in Indonesia. The rest are either sitting idle or coming back from their hauls empty-handed. This results in high logistics costs and late deliveries. Logisly aims at having the largest trucking network in Indonesia. They wish to provide the availability of cost-efficient and reliable trucks.
Logisly’s Company Profile
The company is currently contributing to over 1,000 businesses within Indonesia. These include e-commerce, fast-moving consumer goods, chemicals, and construction companies. Logisly’s Series A will help them grow the network of shippers and transporters. Presently it partners with 300 corporate shippers and over 40,000 trucks. The funding will also improve progress on product development. Some of its clients are Unilever, Haier, Grab, Maersk, JD.JD, among others.
Indonesia’s logistics sector is witnessing a steep increase in consumer and industry activities. Despite a global economic slowdown, Indonesia’s market has been quite stable. This can be credited to growing domestic consumption and a rise in its small and medium enterprises. But factors like unbalanced population density poor infrastructure hurdles growth in the country. Indonesia’s logistics sector comprises shipping and international freight forwarders. The courier providers have engaged mainly in inland transportation. Meanwhile, the logistics service providers operate on a multimodal transport model.
Recent changes were marked by local businesses moving to outsource their supply chain management. Technology, in addition to the investment, is playing a crucial role in improving the logistics sector. The use of GPS tracking and RFID is still rare in the country. But startups like Logisly is providing adaptable solutions to the available infrastructure.
