Blitz Electric Mobility secures USD 1.6 million in oversubscribed seed extension funding, led by ADB Ventures, bringing its total funding to USD 2.6 million. The investment accelerates Blitz’s expansion in Indonesia, reinforcing its position as a leader in EV logistics while emphasizing sustainability and operational efficiency.
19 March 2024 – Blitz Electric Mobility, a pioneering force in the electric vehicle (EV) logistics sector across the Asia Pacific region, proudly announces the successful completion of its oversubscribed seed extension funding round, securing USD 1.6 million from prominent investors. This significant milestone, achieved between Q3 2023 and Q1 2024, includes notable backers such as ADB Ventures, Iterative VC, FiveFortyAlpha, Third Derivative, BonBillo Fund, Bansea, and Satvik Investments, with ADB Ventures leading the investment round. With this latest funding injection, Blitz’s total funding to date reaches USD 2.6 million, propelling the company’s expansion efforts in Indonesia and solidifying its position as a leader in EV logistics in the country.
Founded in 2019 by former Hyperloop engineer Saivya Chauhan, Blitz has swiftly risen to prominence in the APAC EV logistics market. Operating in 20 Indonesian cities, the company collaborates with over 30 enterprise clients across various sectors, including e-commerce giants like Lazada and Zalora, as well as logistics firms like JNE and SayurBox. Blitz’s innovative approach to delivery services, primarily utilizing electric vehicles, underscores its commitment to sustainability and operational efficiency.
At the core of Blitz’s success lies its unique white-labelling business model and driver optimization-focused approach to last-mile delivery. This model allows clients to leverage Blitz’s cutting-edge logistics technology and EV fleets under their brand, enhancing delivery efficiency without requiring substantial infrastructure investments. Blitz’s AI-powered technology ensures over 99% delivery completion SLA with shorter delivery times and higher income for drivers compared to traditional gig workers.
Blitz’s asset-light B2B model, combined with its collaboration with EV OEMs, enables extended lease arrangements funded directly from courier earnings, ensuring capital efficiency while empowering couriers to acquire their EVs. With a wide range of services spanning e-commerce, grocery, logistics, and healthcare sectors, Blitz has emerged as a reliable partner for businesses seeking sustainable delivery solutions.
As of now, Blitz has achieved remarkable revenue growth and completed millions of green deliveries, significantly reducing carbon emissions. Looking ahead to 2024, the company aims to expand to 40 cities in Indonesia, targeting 2 million green deliveries per month, with a focus on maximizing driver income and reducing the logistics industry’s carbon footprint.
Regarding the recent funding round, Charles Cole Navarro, Investment Specialist at ADB Ventures, highlighted Blitz’s potential to transform the logistics sector in Southeast Asia, emphasizing its high growth trajectory and commitment to sustainability.
Saivya Chauhan, Founder and CEO of Blitz Holdings, expressed excitement about the company’s journey, emphasizing its mission to redefine industry standards and set new social and environmental benchmarks.
Charles Chai, COO and Director of Blitz Indonesia, echoed these sentiments, affirming the company’s dedication to operational excellence and technological innovation.
Blitz Electric Mobility invites all stakeholders who share its vision of positive change and innovation to join its transformative journey in Southeast Asia.
