Luwjistik, a Singapore-based e-logistics firm, secured a seed investment round headed by East Ventures with participation from Arise, a fund created by cooperation between MDI Ventures-Finch and Global Founders Capital. The funds will be used to expand the company’s local and regional teams in Singapore, Indonesia, and Malaysia, as well as to enhance its platform and reach.
Syed Ali Ridha Madihid and Wong Yingming, veterans of logistics and e-commerce, established Luwjistik in July. Their aim is to build a logistical infrastructure with immediate regional reach through a network of worldwide partners, allowing clients to take advantage of a standardised procedure that is simple and transparent.
According to Syed Ali Ridha Madihid, co-founder and CEO of Luwjistik, the solution is designed to address the surge in e-commerce popularity prompted by the epidemic, which has pushed logistical firms to extend their operations.
Many people are unable to travel to build their network and connections on the ground. Many are also still relying on the old ways of doing things, and are unable to transform themselves digitally to keep up with the demands,” he said on Thursday.
Clients using the Luwjistik platform simply need to integrate a single API to interact with specified partners and complete the transaction process. The Luwjistik platform currently connects a network of over 30 partners across Singapore, Malaysia, Indonesia, the Philippines, and Thailand. Ninja Van, J&T Express, and JNE Express were among the firms involved. Clients who have utilised the platform include DHL eCommerce and YCH Group Pte Ltd.
According to Madihid, the firm provides many major core values. For starters, clients will have access to a network of possible Southeast Asian partners that can transport imported goods to local or regional markets. They can choose the service provider that best meets their requirements.
Second, because it is standardised, clients may more easily handle cross-border paperwork, process, and fee transparency issues. Finally, the platform’s single API allows for easy and quick data administration, direct booking, contract signing, document signing, and payment processing all in one place.
According to Madihid, the company’s goal is to link the various points of the supply chain by combining the technology and expertise that the co-founders have gained from their work in the industry. Finally, they want to assist clients in navigating the complexities of cross-border shipping, particularly in developing countries where it might be fragmented.
“In the end, as there is an urgency to accelerate the digitalisation of the logistics sector to meet the demands of the market, Luwjistik provides a fast, efficient, and safe tech solution to help companies grow,” he said.
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