Blitz Blectric Mobility, a Jakarta, Indonesia-based electric vehicle (EV) company, raised USD1.6M in funding.
The round, which brought total funding to date to USD 2.6M, was led by ADB Ventures, with participation from Iterative VC, FiveFortyAlpha, Third Derivative, BonBillo Fund, Bansea, and Satvik Investments.
The company intends to use the funds to accelerate its expansion across Indonesia, strengthening its position as the country’s leading EV logistics enabler.
Led by ex-Hyperloop engineer Saivya Chauhan, CEO, Blitz is a data-driven logistic enabler in SEA. Enterprises from various industries private label its services, incorporating its logistic tech stack, operations, and EV fleets to enhance their delivery efficiency and margins.
First conceptualised in 2019 by Chauhan, the company operates nationally in 20 Indonesian cities and collaborates with over 30 enterprise clients across eight industry segments, including Lazada, BliBli, eFishery, JNE, Zalora, and SayurBox.
In 2024, Blitz aims to expand to 40 cities in Indonesia, targeting 2 million green deliveries a month.
FinSMEs
29/03/2024