Indonesian logistics tech startup Triplogic raises seed funding round
Indonesian logistics startup Triplogic today announced an undisclosed seed funding round from venture capital firm East Ventures.
The Bandung-based startup plans to use new funding to support product and tech development.
It will also use the funding to expand its logistics network by partnering with small- and medium-sized entrepreneurs (SMEs) to become their drop shipping points.
The startup is currently working with over 1,600 SMEs and aim to add more than 15,000 drop points in 2019.
Triplogic itself is currently operating in 61 cities across Indonesia, including Jakarta, Bandung, Surabaya, Jogjakarta, and Palembang.
“Triplogic is not just an ordinary logistics company that only does parcel delivery. We are an end-to-end partner that provides logistics, parcel delivery, fulfillment, and distribution services for SMEs. As a Logistics-as-a-Service (LAAS) company, we focus on creating a strong supply chain ecosystem,” explained Triplogic CEO and Co-Founder Oki Earlivan in a press statement.
Co-founded by Earlivan, Rowdy Fatha, and Krisna Adiarini, Triplogic’s services included instant delivery by setting up drop shipping points in SMEs and local shops that feature smart lockers and drop boxes.
The funding round for Triplogic is the latest in the series of funding for Indonesia-based logistics and warehousing startups, such as Kargo and the fourth batch participants of GK-Plug and Play Indonesia.
For East Ventures, the investment is part of its effort to build an ecosystem of startups in Indonesia.
“East Ventures has invested in a wide range of companies within the commerce and supply chain ecosystem, and we are extremely excited about how our ecosystem is starting to take shape,” said East Ventures Partner Melisa Irene.
“All the e-commerce platforms we have invested in creating value by helping customers obtain their products easily, creating a seamless online-to-offline experience; the recent example, Fore Coffee. We realised that Triplogic, as the last mile player, is the missing piece in the puzzle of our core supply chain ecosystem, and it fits perfectly,” she added.