Waresix Secures Seed Funding from East Ventures
Will be used to extend warehouse network
Prayogo Ryza - 21 February 2018
On-demand warehouse service Waresix announces seed funding from East Ventures. The service, with a solution to connect businessman and professional warehouse operator, is planned to use the investment in accelerating Waresix's mission to develop their warehouse network, infrastructure, and cloud-based platforms.
E-commerce marketplace in Indonesia is projected to affect the development of warehouse market industry. The need for on-demand warehouse brings a number of opportunities for Waresix.
"Distribution and logistics have always been a challenge in Indonesia due to its island structure. Waresix provides a solution for dynamic warehouse strategy that allows its customers (retailers, distributors, and manufactures) to adjust quickly with variable demands. Our dynamic warehouse offers flexibility so that customers only need to pay per unit for services they can use, without extra funding," Andree, Waresix's CEO, said.
Poor logistics system can affect business operation such as product consolidation in different places, documentation management, and billing for the parties. It makes the business run slower due to the splitting focus. The service is trying to solve this kind of condition.
"Waresix technology is using algorithms that can help users find the best warehouse to store their products. The cloud-based software provides access for clients to manage their bookings, for operation visibility such as inventory & shipping management, as well as warehouse bills and contract management," Waresix's CTO Filbert Hansel explained.
Waresix is currently available in some big cities such as Jabodetabek, Semarang, Yogyakarta, Surabaya, Medan, Lampung, Pekanbaru, Makassar, and Balikpapan.
For Waresix's CFO Edwin, the company is expected to help customers having difficulty with overflow inventory, product distribution, temporary storage, and cross-docking solutions.
Waresix's total funding for the initial round is still undisclosed, but the company will use the investment to achieve its mission to develop and expand the existing warehouse network.
"Waresix combines sharing economy and SaaS system to serve modern logistics industry. They help business players to connect with warehouse providers efficiently and help them to maximize the use of their assets. The solution will only work for the marketplace with significant players in digital commerce. We expect that Waresix can dominate Indonesian market real quick," Willson Cuaca, East Ventures' Managing Partner, said.
– Original article is in Indonesian, translated by Kristin Siagian