Indonesia, the four biggest country in the world has a wide geological structure. The country consists of roughly 17,000 islands. Even with five main islands, the country is big for logistic industry. Therefore Ritase wants to makes the traditional logistic better by digitalizing it.
Logistics in Indonesia counts up to 25-30% of Indonesia’s GDP. This way above in US that only counts for 5%. But the logistics industry in the country is still complicated. Because there are too many brokers in the middle that interrupt many shipments.
Ritase is cutting through all the unnecessary. The 2-year-old startup conncets shippers and transporters. It uses B2B digital transportation system. The company also provides management systems for trucks, demand and supply. Using SaaS system, the platform makes a real time management easy.
Starting off small, Ritase has the sturdy back up of its co-founders backgrounds
The company started off with only 13 employees. Iman Kusnadi, co-founder of the company has a long track on the logistics business. He previously worked in DHL Indonesia. As a software architect and developer, David Samuel helped him rebranding Trucktobee to Ritase.
Now, the company brags that it manages 10,000 shipments per month. With 7,500 trucks and 7,000 drivers ready to works. Ritase has many famous brands on its client list. The brands includes Nestle, Unilever, Japfa, Lotte etc.
Recently the company has just closed its Series A funding round. And it raised $8.5 million. Golden Gate Ventures led the investment joined by Jafco Asia and ZWC Ventures.
Ritase stated that it will use the funding for expansion. Singapore is at the front of the potential market for the company. As well as Malaysia, Philippines and Thailand.
It will also use the investment to accelerate innovation and development internally. This is to realize the company’s dream of leading the market of Indonesia’s trucking industry.
Currently, Ritase competes with Kargo Technologies in the country. Kargo has Tiger Fang on its back. He previously worked for Uber, involved in Uber’s launch in Indonesia.
