Indonesian-based e-commerce logistic solution business Biteship, which focuses on enabling SMEs and enterprises has raised an undisclosed sum of initial funding from East Ventures and Beenext, according to a BusinessNewsAsia report.
Mirsa Sadikin, Co-Founder & Chief Executive Officer of Biteship, said they are happy to partner with East Ventures and Beenext for this investment round as this will fast-track their mission of “integrating better technology for logistic solutions to serve our customers”.
Biteship was formed by Sadikin and Afra Sausan, Co-Founder & Chief Marketing Officer, who saw a large technology gap between shipping providers (couriers) and warehouse providers in allowing technology solutions for SMEs and enterprises doing business.
The company’s 4PL strategy streamlines the difficult process of shipping while empowering all players in the supply chain. It develops a ready-to-use Application Programming Interface (API) that serves as a single point of entry to third-party logistics (3PL) and warehouse providers, making commerce operations easier.
With a 9.2% annual growth rate, the Indonesian freight and logistics market was valued at $81.3 billion in 2020. It’s also helped by the fact that the parcel delivery business has grown in popularity during the outbreak.
Because of the large market and unmet need in the logistics business, Biteship intends to be the solution in connecting more 3PLs to Indonesian merchants and assisting them in providing a seamless experience.
In a statement, Sadikin said they are proud to be the first platform that approaches supply chain product development from a developer’s perspective.
“We believe that every single touch point of the supply chain product development process should be carefully written for future improvements,” Sadikin added.
Devina Halim, Principal at East Ventures, said they believe their investment in the company will boost Biteship in continuing to hone its services to tackle the logistics gap in the market, providing a direct impact on the growth of commerce industries in Indonesia.
Dirk van Quaquebek, a managing partner at BEENEXT, said they are excited to be Biteship’s partner in their journey.