Prosus invests in Indonesian logistics firm, Shipper
The investment also saw participation from multiple existing investors, but the funding amount was not disclosed
Listed technology investor, Prosus, has raised funds for Indonesia-based logistics technology company Shipper to help expand its business.
The funding, which was not disclosed, was led by Prosus Ventures, formerly known as Naspers Ventures.
Other companies involved in the fundraising include existing investors Lightspeed, Floodgate, Y Combinator, Insignia Ventures, and AC Ventures.
Shipper describes itself as a tech-enabled logistics platform that offers a one-stop logistics solution, from a multi-courier shipping platform to a distributed warehousing and fulfilment network.
Prosus did not say how much the funding round, nor how much its contribution, was worth. Data from Crunchbase shows that Shipper has so far raised $30.2m (about R523m) since its founding in 2016.
The company says it aims to solve three major problems in Indonesia’s logistics space, including a confusing plethora of different warehousing and shipping options, lack of price transparency, and below average trackability.
In addition, it offers about 30 locations with plans to expand its reach to other cities and new regions in Indonesia.
Indonesia’s logistics market is projected to be worth $240bn by 2021. Despite the size of the market, Shipper says logistics in the country are extremely inefficient. In a number of cities, shipping costs can often add up to 40% of e-commerce basket sizes, “serving as a major barrier to mass e-commerce adoption in the country”.
In a statement, Banafsheh Fathieh, principal investor at Prosus Ventures, said: “Shipper has identified a massive need in the market, matched it with a local, technology-enabled solution. We are excited to partner with it to transform the logistics of e-commerce for Indonesia.”