- The MYStartup pre-accelerator programme has been instrumental in helping startups like Luwjistik
- Jeslin Bay, CEO of BlackStorm Consulting, expressed her hope that the acquisition will enable Luwjistik to achieve its mission of building the world’s biggest virtual logistics network sooner.
11 October, 2022: Shippit, Australia’s leading logistics technology platform, announced the acquisition of Southeast Asian startup Luwjistik. The deal is worth AUD 18 million and will see Shippit’s co-founder and co-CEO, William On, move to Singapore to lead a team of 50 and oversee the company’s Southeast Asia operations.
Luwjistik’s unified API platform enables freight forwarders, courier companies, and third-party logistics providers to connect with network partners worldwide. This one-year-old startup has onboarded over 130 network partners across 20 countries and counts carriers such as Ninja Van, J&T Express, and JNE Express as network partners on its platform and provides solutions for major logistics players in the region including POS Malaysia, Lion Parcel and Gushcloud’s social commerce arm, Summer International.
Luwjistik has won several start-up awards in the region, including Alibaba Cloud Demo Day 2022 (Malaysia), Startup Wheel International Track 2022 (Vietnam), Promising Startup Champion, LogiSYM (Singapore) as well as a finalist at the Cradle MYStartup Pre-Accelerator Program 2022 (Malaysia) and Mranti Global Accelerator Program 2022 (Malaysia).
The acquisition of Luwjistik will enable Shippit to focus on accelerating growth in Southeast Asia by leveraging Luwjistik’s technology and ecosystem. In addition, it will help to strengthen their go-to-market strategy in the region by adding Luwjistik’s co-founders, who possess extensive industry knowledge and experience, to the team and help sharpen Shippit’s approach.
Similarly, this move will allow Luwjistik to expand its offering as well as explore new partnerships. This comes at an opportune time with the continuous hypergrowth of eCommerce in the region.
“We are grateful,” said Syed Ali Ridha Madihid, co-founder and CEO of Luwjistik, “for the opportunity to tap into the network and connections extended by Beyond4 with Cradle while advice from BlackStrom Consulting allowed us to better plan our growth in the region.” BlackStorm Consulting is a Singapore-based consulting boutique that helps businesses scale in Southeast Asia.
Jeslin Bay, CEO of BlackStorm Consulting, expressed her hope that the acquisition will enable Luwjistik to achieve its mission of building the world’s biggest virtual logistics network sooner. “We are very excited to witness the rapid growth of Luwjistik over the past year and we look forward to them making exciting new strides with Shippit in the future,” she said.
Luwjistik was announced as one of the top 5 startups in MY Startup Pre-Accelerator Programme
The MYStartup Pre-Accelerator Programme has been instrumental in helping startups like Luwjistik to structure their company and business model as well as build their team for scale and growth. In addition to providing the right network and opportunities, startups are also assigned to relevant mentors with extensive experience and expertise in their respective fields to help them on their journey.
About BlackStorm Consulting
BlackStorm Consulting (http://blackstormco.asia) is a Singapore-based boutique growth consultancy firm specialising in corporate strategy, profit management and investment management. We scale businesses in Southeast Asia. Our clients and connections are internationally present and range from small and medium-sized businesses to MNCs to government agencies.
The BEYOND4 (https://beyond4.tech/) integrated digital ecosystem strives to make Southeast Asia a global powerhouse for innovation. From startups to Fortune 500s to primary education institutions, established universities, municipal councils, and federal governments, there are no problems big enough for BEYOND4. BEYOND4 is invested in identifying, accelerating & incubating talent. Our integrated digital solutions empower people to achieve their true potential by inspiring creativity and bringing ideas to life.