# PT Paxel Algorita Unggul

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/pt-paxel-algorita-unggul

- Industry: Consumer Services
- Headquarters: Jakarta, Indonesia
- Website: www.paxel.co
- Total disclosed funding: $59M
- Latest round: Series C (May 13, 2022)
- Investors on record: 15

## About

PT Paxel Algorita Unggul is a technology-driven logistics company specializing in innovative delivery solutions across Indonesia, focusing on customer-centric services and real-time tracking capabilities.Founded in 2017 and headquartered in Jakarta, Indonesia, PT Paxel Algorita Unggul specializes in logistics and delivery solutions. The company has undergone strategic pivots to enhance its service offerings but has not reported any major structural changes. The founders, Johari Zein and Zaldy Masita, have a background that supports their venture in logistics. In May 2022, the company raised USD 22.73 mn in Series C funding led by Astra Digital, with other investors including Amsaka Investama Sejahtera, Central Capital Ventura, and Endeavor Catalyst. This round of funding has brought the total capital raised to USD 22.73 mn, with a current company valuation of USD 123.88 mn.Paxel provides a range of technology-based logistics services, including Same Day Delivery, Next Day Delivery, and Regular Delivery. Its specialized solutions cater to various customer needs, such as PaxelBig for large parcels and PaxelAmplop for lightweight items, with the latter offering flat-rate shipping for IDR 10,000. The firm utilizes a comprehensive mobile application for customers to track and manage deliveries, targeting e-commerce vendors, food businesses, and individual consumers throughout Indonesia, including major cities like Jakarta, Surabaya, Medan, and Bali.Paxel generates revenue through a structured transaction model involving direct consumer sales and business partnerships. Customers are charged based on service type and package specifications. The pricing structure varies by urgency and size, supporting efficient logistics and delivery services. The partnerships established with local businesses further enhance revenue streams by facilitating bulk delivery solutions tailored to customer needs.Following the Series C funding round on May 13, 2022, which raised USD 22.73 mn, PT Paxel Algorita Unggul plans to expand its coverage outside Java Island and enhance its cold chain capabilities. The company is focused on developing new products and services to meet growing logistic demands, although specific launch dates for these initiatives have not been disclosed. The recent funding will be pivotal in supporting these growth strategies, aiming to solidify the company’s presence in the logistics market in Indonesia.

## Funding rounds

- Series C, May 13, 2022, $23M — SIG Asia Investment, Endeavor Catalyst, FJ Labs, MDI Ventures, Central Capital Ventura, Astra Digital, Amsaka Investama Sejahtera
- Series B, Feb 25, 2022, $9.4M — KB Investment, SIG Asia Investment, MDI Ventures, Luminary Media, LLC
- Series A, Oct 9, 2020, $7.8M — KB Investment, SIG Asia Investment, East Ventures, FJ Labs, MDI Ventures, Asean Innovation Capital LP
- Series A, Jul 22, 2020, $11M — Global Basket Mulia Investama, Luminary Media, LLC
- Series A, Dec 3, 2019, $7.5M — SIG Asia Investment, East Ventures, SMDV, Agaeti Venture Capital, Tona Investments LP

## Investors

- SIG Asia Investment (https://capitalatlas.ai/funds/sig-asia-investment) — Series A, Series B, Series C
- East Ventures (https://capitalatlas.ai/funds/east-ventures) — Series A
- SMDV (https://capitalatlas.ai/funds/smdv) — Series A
- Agaeti Venture Capital (https://capitalatlas.ai/funds/agaeti-venture-capital) — Series A
- Tona Investments LP — Series A
- Global Basket Mulia Investama (https://capitalatlas.ai/funds/global-basket-mulia-investama) — Series A
- Luminary Media, LLC — Series A, Series B
- KB Investment (https://capitalatlas.ai/funds/kb-investment) — Series A, Series B
- FJ Labs (https://capitalatlas.ai/funds/fj-labs) — Series A, Series C
- MDI Ventures (https://capitalatlas.ai/funds/mdi-ventures) — Series A, Series B, Series C
- Asean Innovation Capital LP — Series A
- Endeavor Catalyst (https://capitalatlas.ai/funds/endeavor-catalyst) — Series C
- Central Capital Ventura (https://capitalatlas.ai/funds/central-capital-ventura) — Series C
- Astra Digital — Series C
- Amsaka Investama Sejahtera — Series C