Jakarta- based logistic tech platform Shipper claims that it has managed to secure Series A funding led by Prosus Ventures, formerly known as Naspers Ventures.
Also participating in the round are existing investors Lightspeed, Floodgate, Y Cominator, Insignia Ventures and AC Ventures.
This verifies e27’s report last month. Quoting sources, it is reported that Shipper is said to have raised approximately US$20 million in its Series A round led by Naspers and its existing investors.
The logistic tech startup plans to use the funding to expand its business in Indonesia.
“With this investment Shipper will continue to grow, and our priority now is to recruit exceptional talent to join us in building strong data and tech capabilities to structure the unstructured world of fulfilment and shipping,” said Shipper co-founder and COO Budi Handoko.
Shipper was established in 2017 by co- founders Budi Handoko and Phil Opamuratawongse. The logistic aggregator platform offers a one- stop logistic solution such as a multi- courier shipping platform to distributed warehousing and fulfilment networks in more than 30 locations in Indonesia.
The logistic platform also offers a dashboard where it is able to aid sellers on e- commerce platforms to manage delivery to their customers. The dashboard will recommend the most efficient logistic service to the seller, including courier pickup services and integrated reports.
On top of that, it also provides a multi- carrier API that allows sellers to manage orders, print shipping labels and get tracking information from multiple providers on their phone.
”Despite the size of the market, logistics in Indonesia is extremely inefficient. In tier two and tier three cities, shipping costs can often add up to 40 per cent of e-commerce basket sizes, serving as a major barrier to mass e-commerce adoption in the country,” said Handoko.
The startup aims to solve three major problems in Indonesia’s logistics aspects, including a confusing overabundance of different warehousing and shipping options, a lack of price transparency, and subpar tracking ability.
“Shipper addresses logistics needs with a favourable tech-enabled, asset-light, variable-capacity model. This model has demonstrated strong early adoption since its launch, and will only continue to improve with a strong, seasoned team,” added Budi.
Presently, the logistic startup is working with more that 100 express couriers in order to keep the promise to its customers to offer hassle- free shipping and fulfilment on top of competitive shipping costs and transparent services.
Prosus Ventures, a global consumer internet group is one of the largest technology investors in the world. It focuses on building business in the online classifieds, payments and fintech, and food delivery sectors in markets including India, Russia and Brazil.
Prosus Ventures has a primary listing on euronext Amsterdam and a secondary listing on the Johannesburg Stock exchange. The company is majority-owned by Naspers.
In September 2019, Shipper closed US$5 million in funding from Lightspeed, Floodgate Ventures, Insignia, Convergence Ventures, and Y Combinator.