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Indonesian startup SiCepat bets on web of affiliates to deliver the goods

Logistics company to invest further into its range of services and infrastructure

SiCepat offers warehousing and fulfilment, e-commerce-enabling services, online distribution and middle-mile logistics services. (Photo by Yuki Kohara)

JAKARTA -- When Indonesian logistics company SiCepat Ekspres declared itself a "soonicorn" -- a startup with a potential to be valued at $1 billion or more, making it a unicorn -- after closing a $170 million funding round in March, the announcement raised some eyebrows.

Although it had previously raised over $100 million in funding, the last-mile delivery company had hardly been seen as a contender to become the archipelago's next unicorn.

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