Kejora joins $50m Series A for Indonesia’s Sicepat

Sicepat operates an end-to-end logistics solution catering to online merchants, with capabilities including warehousing, couriers, and air and cargo delivery covering all of Indonesia. The company has around 5,000 employees across the country and claims to be able to deliver up to 200,000 packages every day; it will use the new capital to support further expansion.

Kejora participated in Sicepat’s seed round in 2017 alongside an undisclosed strategic investor. The new investment came from Kejora InterVest Growth Fund, a vehicle launched in 2017 alongside South Korean venture capital firm InterVest with a target of $100 million.

“With the increasing ease of business and online shopping within the region, synergies with Indonesia’s champions are needed to ensure fulfillment capability,” said Sebastian Togelang, founding partner of Kejora, in a statement. “Sicepat’s solutions are answering Indonesia’s government-focused efforts in solving logistical problems while infrastructure development has been accelerated to keep Indonesia on top of the logistics game.”

Kejora is also investing its second early-stage vehicle, which closed at $80 million last year, and is currently raising a growth fund that will participate in Series B and C round for local start-ups. The growth fund had raised $80 million as of October 2018. Barito is among the LPs for both vehicles.

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Save this article  
• Send to  

• Topics
• Southeast Asia
• Technology
• Infrastructure
• Early-stage
• Indonesia
• Kejora Ventures
• InterVest
• Logistics
• TMT