Indonesia’s Blitz Electric Mobility secures Pre-series A investment from Vynn Capital
A Pre-Series A funding round led by Malaysia-based Vynn Capital has been closed by Blitz Electric Mobility (Blitz), an electric vehicle (EV) logistics enabler based in Indonesia.
With participation from current Blitz investor Iterative Capital, the investment signifies Vynn Capital’s continued commitment through its mobility and supply chain fund, according to a statement released by Blitz on Monday.
Notable new investors are also included in the round, including Vinner Ventures, former PayPal executive Rajesh Venkatesh, and former Andreessen Horowitz general partner Balaji Srinivasan.
These join Blitz’s network of impact-driven institutional investors, which also includes Peak XV, FiveFortyAlpha, BonBillo Fund, and Asian Development Bank (ADB) Ventures.
Blitz intends to use the money it has obtained to expand throughout Indonesia more quickly as it embarks on a new era of controlled, sustainable growth.
The business is positioning its resources to promote better unit economics and long-term value by putting a greater emphasis on efficiency, high-quality customers, and scalable operations.
With this updated approach, Blitz is well-positioned to continue making a significant impact at scale and confidently transition to profitability.
The company wants to become the biggest supplier of EV logistics in Indonesia by expanding its operations to 30 cities.
“The initial growth phase is behind us. Now, our focus is disciplined scaling,
“That means maximizing what works and discontinuing what doesn’t,” said Saivya Chauhan, Founder and Chief Executive Officer of Blitz.
The funding, according to Blitz’s co-founder and chief financial officer William So, shows faith in their tested business plan and puts them in a position to raise money that supports our long-term goals.
In Indonesia’s last-mile delivery market, Blitz is at the forefront of sustainable logistics thanks to its asset-light, tech-first strategy, the statement said.
It made clear that the company tackles three major issues: enabling cleaner, electrified infrastructure, overcoming the difficulties of scaling in-house logistics, and satisfying demands for instant delivery.
Additionally, Blitz relieves companies of the burden of owning and managing their own fleet assets by providing scalable, same-day, and instant delivery.
The company manages an expanding network of gig couriers and offers customized business-to-business (B2B) logistics solutions, such as same-day and instant delivery within 1 to 12 hours, integrated white-label logistics services, and full delivery management under clients’ own brands.
Blitz has created a special model for long-term client relationships, embedded EV financing for gig workers, and sustainable margins. By 2024, the company had tripled its revenue and reduced its burn rate by more than 70%, greatly reducing its operating expenses.
Through a methodical approach, the business has seen significant increases in profitability.
