Indonesian logistics player Ritase gets $8.5m Series A

Jafco Asia and ZWC Ventures also participated. It follows closely on a $4.4 million seed round from the likes of Mitsubishi Corporation, Beenext, Skystar Capital, Agung Ventures, and Insignia Ventures Partners. The fresh capital will be used to expand operations beyond Indonesia in Southeast Asia.

"As Indonesia's economy continues to grow, its existing logistics infrastructure must digitize and scale to meet the evolving demands of shippers and truckers,” Hall Justin, a partner at Golden Gate, said in a statement. “Ritase will become the cornerstone of Indonesia's digital logistics infrastructure."

Ritase offers a cloud-based application for mobile and desktop that connects shippers and transporters through a process that can be monitored real-time and a detailed reporting system. The company claims to have more than 7,500 trucks, 500 transporters, and 7,000 partner drivers connected to its platform.

Clients include fast-moving consumer goods corporations such as Nestle, and Unilever. Ritase has also signed an agreement with the Indonesian Ministry of Transportation to digitalize weight scales nationwide to help alleviate the country's issue of overloading and over the dimensions of trucks.

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• Topics
• Southeast Asia
• Support services
• Technology
• Early-stage
• Indonesia
• JAFCO
• Golden Gate Ventures
• Logistics
• TMT