Wareflex, an on-demand warehousing platform in Vietnam, has closed an undisclosed pre-seed funding round with lead investor Genesia Ventures.
Existing backer Antler also participated, bringing the startup’s total raise to US$785,000.
The company will use the money to develop its technology platform and expand the team.
Wareflex simplifies the warehouse procurement process with a B2B marketplace, a business network of related products and services, and a SaaS supply chain tool to support clients in optimising their operations.
The firm provides flexible warehouses of all types on a pay-per-use basis. It has a network of over 100 warehouses across Vietnam, including general/ambient warehouses, cold storage, open yards, and e-commerce fulfilment centres.
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On-demand warehousing platforms match companies with underutilised warehouse and distribution centre capabilities and customers needing extra space or expanding their distribution network. This new business model has unique advantages in terms of flexible capacity and commitment granularity but also has different cost structures compared to traditional ways of obtaining distribution capabilities.
Wareflex’s Co-Founder and CEO Rajnish Sharma said: “We believe the supply chain industry in Vietnam has an opportunity to improve in terms of standardisation, transparency, efficiency, and innovation. With that in mind, Wareflex is helping to improve the openness of the warehouse attributes, service pricing, and availability. Secondly, we increase the efficiency and utilisation of warehouses across Vietnam by facilitating the matchmaking process between supply and demand. And finally, we boost innovation by providing flexibility and agility to businesses to access warehouse services and build their distribution network effectively.”
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