Ritase plans to use the funding to focus on growth and new market expansion.
The startup was founded in 2017 by Iman Kusnadi and David Samuel. It provides digital logistics services for trucks connecting shippers and transporters via mobile and desktop application. Using Ritase, users can access a real-time monitoring and reporting for the shipment process.
Currently, the company said it covers shipments in all parts of Indonesia and facilitates tens of thousands of shipments per month, with more than 7,500 trucks, 500 transporters, and 7,000 partner drivers connected to its app.
Its portfolios include brands such as Nestle, Unilever, Universal Ribena Corporation (URC), Japfa, Signify/Phillips Lighting, Lotte, and Perfetti Van Melle.
In the ear future, Ritase plans to provide supply chain financing to local transporters and affordable spare parts and trucks through a group buying platform.
Previously, the startup has raised two rounds of funding, totalling US$4.4 million, from Insignia Ventures Partners, Mitsubishi Corporation, Beenext, Skystar Capital, Agung venture capital, and several angel investors.