Andalin, an Indonesian digital freight forwarder, said that it has raised $4 million in a round-headed by Intudo Ventures.
This round was also co-funded by Cardig Group, Beenext, and a number of unidentified strategic investors.
Andalin plans to use the funds to extend its market coverage in East Indonesia, increase its staff from 100 to 150-200 people across all functions, and launch new goods and services that will be incorporated into its primary platform.
In 2022, the company also intends to provide an end-to-end one-stop solution for international trade activities, including trade financing, cargo insurance, and a SaaS-based freight management system. These services will be integrated with the company’s planned trading service platform, which will allow manufacturers and distributors in the Andalin ecosystem to trade with one another.
Andalin concluded an undisclosed Series A fundraising round over a year ago to create freight consolidation infrastructure and open branch offices in the international port towns of Semarang, Surabaya, Medan, and Makassar.
Rifki Pratomo (CEO), Ivhan Famly Gunawan (CTO), and Saut Tambunan (COO) founded Andalin in October 2016 to provide companies with fast and simplified cross-border shipping operations in Indonesia and worldwide destinations.
Customers may use its digital platform to book shipments, obtain faster freight quotes, compare services, and manage hundreds of shipments all in one spot. Its logistics services so far have included sea freight, air freight, project shipping, and customs clearing.
Andalin says that it saves clients up to 15-20 percent on cross-border shipping expenses, reduces administrative labour, and boosts productivity when compared to their prior service providers.
The startup has worked with over 300 manufacturers and distributors, ranging from SMEs to huge enterprises, like Rentokil Initial, Hitachi, and Electrolux, and has coverage of over 200 global ports.
Andalin’s monthly income increased by 690 percent from February to December 2021, accompanied by a 10.6x rise in the total number of containers carried, the firm said in a statement.
Indonesia’s import and export value increased from over $300 billion in 2020 to around $430 billion in 2021, with a trade surplus of $35.34 billion, the most since 2007.
Meanwhile, according to ASEAN Stats, the value of international commerce in Southeast Asia, both between member nations and from/to other areas, was estimated at US $2.8 trillion in 2019 and is expected to grow in the coming years. The sector has established itself as one of Southeast Asia’s economic pillars. It is, however, still regarded as undeveloped and ignored, with a total investment value of less than US $40 million in many local firms.
