Indonesian logistics startup SiCepat raises $170 million Series B – TechCrunch
SiCepat, an end-to-end logistics startup in Indonesia, announced today it has raised a $170 million Series B funding round. The company’s last funding announcement was a $50 million Series A in April 2019. SiCepat is one of several Indonesian startups that have raised funding recently to make the supply chain and logistics infrastructure more efficient. SiCepat focuses in particular on e-commerce and social commerce, or people who sell goods through their social media networks. In statement, Kejora Capital managing partner Sebastian Togelang, said the Indonesian e-commerce market is expected to grow at five-year compounded annual growth rate of 21%, reaching $82 billion by 2025.