Shippit snaps up Southeast Asian start-up Luwjistik
Australian e-commerce logistics platform Shippit has acquired Luwjistik, a Southeast Asian start-up that created a uniform API that allows freight forwarders, couriers, and third-party logistics providers to interact with network partners worldwide.
The transaction is valued at $18 million, and William On, co-founder and co-CEO of Shippit, will relocate to Singapore to lead the SEA operation and oversee a team of 50 including localised research and development and back-office teams.
This is Shippit’s second purchase this year following the acquisition of Australian last-mile technology startup Premonition in March. The company raised $65 million in May to help fund growth, especially in Apac.
By using Luwjistik’s technology, local connections, and knowledge, Shippit – which has been doing business in Southeast Asia since 2020 – claims it will intensify its growth in the area, notably among its enterprise clients. With a strong focus on Southeast Asia, Luwjistik has partnerships with more than 100 network partners spread over 18 countries.
“This strategic move will expand our growing and scaling business through product localisation and new market entry beyond Singapore,” said On.
“By offering multi-partner shipping from Luwjistik’s carrier partners, it’ll also enable us to diversify our offering; enabling small-to-medium-sized logistics providers to expand their reach by accessing Luwjistik network partners. It’ll also enable us to explore and execute key partnerships in the region.”
Luwjistik’s network partners include Ninja Van, J&T Express, and JNE Express, and the company provides solutions for key logistics businesses in the region such as Maersk, POS Malaysia, Lion Parcel, and Gushcloud’s social-commerce arm, Summer International.