Participated · Equity · Jun 2022

Ismaya Group is an Indonesian food and beverage firm that operates over 100 restaurants, bars, and festivals across Indonesia and Dubai. Founded in 2003, the company focuses on developing lifestyle concepts in key cities across Indonesia, Southeast Asia, and beyond. In response to COVID-19 disruptions, Ismaya shifted attention toward meal delivery and plans to expand and strengthen that service. The company reported that from March to May this year its productivity and profitability grew by at least 30% compared with the same period last year. The new funding is intended to support the expansion and strengthening of its meal delivery offering as the economy recovers. East Ventures led the $18.1M fundraising, with current investor Falcon House Partners participating.

Participated · Series B · Mar 2021

SiCepat, founded in 2014, is an end-to-end logistics provider in Indonesia that began with last-mile deliveries for small merchants and has expanded to serve large e-commerce platforms. Its services now include warehousing and fulfillment, middle-mile logistics, and online distribution, positioning it across the supply chain. The company says it was profitable and reported it could fulfill more than 1.4 million packages per day in 2020. SiCepat plans to use new funding to further fortify its position in the Indonesian market and potentially explore expansion to other Southeast Asian markets, according to its CEO. The Indonesian logistics market is highly fragmented, which SiCepat and other startups are addressing amid rising e-commerce demand accelerated by the COVID-19 pandemic. Prior to this round, SiCepat disclosed a $50 million Series A in April 2019. Sicepat Ekspres is an Indonesian logistics startup that provides courier, warehouse, air and cargo delivery services and serves tens of thousands of online merchants. The company claims to deliver over 200,000 packages daily and currently operates 600 outlets nationwide. Sicepat aims to expand its physical footprint with a target of 200 drop points in Greater Jakarta this year and will add 50 drop points in Jakarta alone, plus more in major Javan cities including Bandung, Surabaya, Yogyakarta, Malang, and Semarang. The funding will also be used to add vehicles to its fleet to handle seasonal surges around Ramadan and Eid al-Fitr. Sicepat plans to accelerate its IT capability by developing a transport management system to monitor operations more quickly and conveniently. According to Crunchbase, the company has raised a total of USD 53.5 million across two funding rounds since its 2014 founding.