Logistics Startup Company and App SiCepat Raises $170 Million

By McKenzie Carpenter Friday, March 5, 2021

Laying out the logistics of certain operations can prove to be a challenging task. SiCepat, an Indonesian startup company and app, recently raised $170 million in funding to grow the logistics platform.

Aerial view of a cargo container yard.

About the Logistics Business

SiCepat is an Indonesian end-to-end logistics startup and app company that specializes in warehousing and fulfillment, middle-mile logistics, and online distribution for ecommerce sales. The logistics business has many different partners that use the business and app services, such as Tokopedia, Shopee, Lazada, and Bukalapak.

Founded in 2014 by Rudy Swigo and The Kim Hai, the startup company claims it was able to fulfill 1.4 million packages per day in 2020, and the app business was profitable last year. In addition, the logistics startup company states the app business is one step closer to achieving unicorn status.

Before this most recent funding round, the app business secured $50 million in a December 2020 financing round led by Praus Company. At the time, SiCepat was valued at $736 million.

On Friday, it was revealed the startup company had raised $170 million in a Series B financing round, including the $50 million from December, led by Falcon House Partners, Kejora Capital, and DEG, among several others.

Founder and CEO of SiCepat’s parent company Onstar Express, The Kim Hai, said the funding will be used to, “further fortify SiCepat’s position as the leading end-to-end logistics service provider in the Indonesian market and potentially to explore expansion to other markets in Southeast Asia.”

Sebastian Togelong, managing partner at Kejora Capital, added, “We believe SiCepat is ideally positioned to serve customers from e-commerce giants to uprising social commerce players which contribute an estimated 25% to the total digital commerce economy.”

Other Logistics News

Logistics companies like Sicepat are popping up all around the world to bring innovation to this aspect of business operations. Advotics, an Indonesian supply-chain software as a service, or SaaS, business, was able to secure $2.75 million this week.

Elsewhere in the US, Oracle announced in February that the computer software company now had advanced logistics capabilities. Startup Savant reported that a rising logistics startup company, Nextmv, which allows businesses to create and test different logistical models before implementing them into their business strategies, raised $8 million.

In the UK, last-mile delivery logistics startup company Gophr was able to raise $5.6 million in financing at the end of February.

About the Author

Headshot of McKenzie Carpenter

McKenzie Carpenter is a graduate of Central Michigan University with a B.A.A. in Integrative Public Relations and French. McKenzie has previously worked for small businesses and nonprofit organizations.

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