Waresix raises $27.4M from existing backers at a lower share price
Indonesia's Waresix has raised about $27.4 million in late-stage funding from existing investors Granite Asia, Jungle Ventures, and East Ventures, according to regulatory filings accessed by DealStreetAsia. The startup's Singapore holding company allotted new preference shares on July 31.
Granite Asia subscribed for shares worth about $18 million, East Ventures added nearly $6 million via Sun Tzu Tech, and Jungle Ventures' two funds contributed roughly $1.68 million each.
Founded in 2017 by Andree Susanto and Edwin Wibowo, Waresix connects shippers with warehouses and trucks, offering land and sea transport, cold storage, and cargo handling. It has now raised $197.21 million in equity funding since inception.
The new shares were issued at an implied $92.57 each — below the $99.67 reflected in German development bank DEG's June 2025 investment. The reason for the lower price could not be determined.
The round follows the April 2026 stock market debut of logistics subsidiary PT BSA Logistics Indonesia, which raised 302.4 billion rupiah by offering 1.8 billion new shares, or 20.75% of its enlarged capital.
At the listing, Waresix Group President Eric Dharma said BSA was chosen because it contributed the largest share of group revenue across five subsidiaries. He added that Waresix intends to keep expanding "through acquisitions to fill gaps in its service chain."
Backing from the same investors keeps Waresix funded, but the down-round pricing suggests a more cautious valuation even as the group leans on public listings and acquisitions to grow its logistics footprint.
Read more: DealStreetAsia
Image credit: Waresix
