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March 5, 2021
Indonesian last-mile delivery startup SiCepat Ekspres has closed a Series B funding round of $170 million backed by a host of investors including Falcon House Partners, Pavilion Capital and MDI Ventures.
The deal confirms DealStreetAsia’s report published in January.
Other new investors in the round include German development financial institution DEG, Trihill Capital and Daiwa Securities, while existing backers Kejora Capital and Indies Capital also topped up, Sicepat said in a release.
“This financing round is designed 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,” said The Kim Hai, founder and CEO of Sicepat’s parent company Onstar Express.
Indonesian logistics startup SiCepat raises $170 million Series B
SiCepat, an end-to-end logistics startup in Indonesia, announced today it has raised a $170 million Series B funding round. Founded in 2014 to provide last-mile deliveries for small merchants, the company has since expanded to serve large e-commerce platforms, too. Its services now also cover warehousing and fulfillment, middle-mile logistics and online distribution.
Investors in SiCepat’s Series B include Falcon House Partners, Kejora Capital, DEG (the German Development Finance Institution), Telkom Indonesia’s investment arm MDI Ventures, Indies Capital, Temasek Holdings subsidiary Pavilion Capital, Trihill Capital, and Daiwa Securities. The company’s last funding announcement was a $50 million Series A in April 2019.
(Jan 20): Indonesia has narrowed down the list of candidates to lead its new wealth fund to a handful including Pandu Sjahrir of Indies Capital Partners Pte, according to people familiar with the matter.
The government is expected to decide this month on a chief for the fund, known as the Indonesia Investment Authority, said the people, asking not to be named because the matter is private. The 41-year-old Sjahrir, managing partner at the Indonesia-focused alternative asset manager Indies Capital, is considered a front-runner among the remaining candidates, though no final decision has been made, the people said.
Others on the shortlist include Arief Budiman, former finance director of energy producer PT Pertamina; Arsjad Rasjid, president director of PT Indika Energy; Tigor Siahaan, chief executive officer of PT Bank CIMB Niaga; and Rizal Gozali, president director of PT Credit Suisse Sekuritas Indonesia, said the people.
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