Biteship, an Indonesian e-commerce logistics solutions startup focused on empowering small and medium-sized enterprises (SMEs) and enterprises, announced Friday that it has secured an undisclosed amount of seed funding co-led by East Ventures and Beenext.
“We are pleased to partner with East Ventures and Beenext for this investment round. This investment will accelerate our mission to integrate better technology for logistics solutions to serve our customers,” said Mirsa Sadikin, co-founder and CEO of Biteship.
Biteship was founded by Mirsa Sadikin (co-founder and managing director) and Afra Sausan (co-founder and chief marketing officer) who realized that there is a huge technology gap between shipping providers (couriers) and suppliers warehouse in enabling technology solutions for SMEs. and businesses to trade.
Biteship simplifies the complex shipping process while empowering all supply chain stakeholders through the 4PL approach. The company creates a plug-and-play application programming interface (API) that acts as a gateway to access third-party logistics (3PL) and warehouse providers to facilitate business operations.
The Indonesian freight and logistics market was valued at $81.3 billion in 2020 with an annual growth of 9.2%. It is also boosted by the growth of the package delivery service during the pandemic. Seeing the large market and the unaddressed gaps in the logistics industry, Biteship hopes to serve as a solution to connect more 3PLs to Indonesian sellers by helping them provide a seamless experience.
Today, Biteship has over 30 3PLs in its network and continues to grow by providing instant services, same day services, next day services, scheduled services and freight services in the ecosystem. Additionally, Biteship has connected with hundreds of businesses in Indonesia across all industries, including food and beverage, fashion, healthcare, and many more.
“We’re proud to be the first platform that approaches supply chain product development from a developer’s perspective. We believe that every touchpoint in the supply chain product development process should be carefully drafted for future improvements. With better programming, we can have better operations that lead to a better experience for businesses and their customers,” Sadikin said.
Biteship achieved eight times the growth in Q1 2022 compared to Q1 2021, while maintaining profitability with competitive margins. The startup will allocate the funds to expand its team across sales, marketing, operations, product, and engineering teams to ensure better operational excellence and increase adoption. Biteship will continue to expand its technology capabilities, enabling deeper integration with our partners across Indonesia, while strengthening our e-commerce logistics solutions.
“We are pleased to welcome Biteship to the East Ventures family. We believe in Biteship’s mission to provide better logistics solutions from a developer perspective, which would lead to efficiency through the use of technology and integration of 3PL networks. We believe this investment will boost Biteship by continuing to perfect its services to fill the logistics gap in the market, directly impacting the growth of commerce industries in Indonesia,” said Devina Halim, Director at East Ventures.
“Biteship represents a 2022 team, theme and enterprise – disjointed, capital efficient and highly scalable in a massive TAM. We have known the team for years, we have seen how they have built the business and we are delighted to be a partner on their journey,” said Dirk van Quaquebeke, Managing Partner at BEENEXT.
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