Andalin Announces Follow on Funding of 57 Billion Rupiah
This round was led by Intudo Ventures with participation of Cardig Group and Beenext
Andalin announced an additional funding of $4 million or equivalent to 57.2 billion Rupiah led by Intudo Ventures. A number of investors were involved, including Cardig Group, Beenext, and other strategic investors.
The funding follows the previous series A round in March 2021, at which time BRI Ventures was involved. While Beenext previously led Andalin's initial funding in 2020.
The fresh money will be focused on increasing the presence of Andalin products in the local market, including strengthening its position in eastern Indonesia. The company is to add more team, targeting 200 people. In addition, a number of new product innovations will soon be rolled out, such as financing, trading platforms for producers and distributors, etc.
Focus on export-import management solution
Was founded in October 2016, Andalin's focus is to provide digital services that make it easier to manage cross-border shipments. It includes having a B2B model to help shipping companies in Indonesia find affordable cargo transportation -- by plane (Air Cargo & Air Courier) or by ship (Full Container Load & Low Container Load).
Through the Andalin platform, customers can communicate, track, and schedule shipments to global destinations. In addition, it also performs real time monitoring with the Andalin Go application launched last year. With the supply chain efficiency, it is expected to help customers reduce shipping costs, simplify administration, and make deliveries on time.
“We started Andalin with the vision of simplifying Indonesia's international trade by integrating its highly fragmented services ranging from logistics, finance and other trade services into one platform. Indonesia's export-import value grew from around $300 billion in 2020 to $430 billion in 2021, a remarkable growth especially during the pandemic," Andalin's Co-Fonder & CEO, Rifki Pratomo said.
Andalin's technology aims to solve this issue with a presence in 200 global ports and 200 service partners worldwide. From February 2021 to December 2021, Andalin's monthly revenue grew by 690%, coupled with a 10.6x increase in the total number of containers shipped.
Apart from Rifki, Andalin was also founded by Ivhan Famly Gunawan (CTO) and Saut Tambunan (COO).
“Indonesia is at the crossroads of global trade routes and now occupies an increasingly prominent position in the supply chain with many global brands leveraging its developing country consumer base and rich natural resources. Built from a suite of cutting-edge digital freight forwarding services, Andalin brings Indonesia to the world and the world to Indonesia, simplifying the export-import process from start to finish," Intudo Ventures' Founding Partner, Patrick Yip said.
Logistics startup development
In terms of export-import logistics solutions, there are not many existing startups in the market. Apart from Andalin, platforms that offer similar solutions include Tera Logistic, Allsome, and Janio.
Meanwhile, the issue of logistics within the country itself (for domestic shipments) also still leaves many challenges – especially in the midst of rapidly increasing demand due to e-commerce. So most players are still focused on solving these issues, starting from the supply chain, vehicle management, to logistics management.
Logistics innovation also received good support from investors. Until 2021, DailySocial.id noted a number of startups that have received good support from investors, including:
|ASSA (induk AnterAja)||Convertible Bond||2021|
|Andalin||Seed Funding, Series A||2020, 2021|
|GudangAda||Series A Series B||2020 2021|
|J&T Express||Venture Round||2021|
|Kargo Technologies||Seed Funding Series A||2019 2020|
|RaRa Delivery||Seed Funding||2021|
|Shipper||Seed Funding Series A Series B||2019 2020 2021|
|Waresix||Seed Funding Pre-Series A Series A Series A+ Series B||2018 2018 2019 2020 2020|