Indonesian recommerce startup LIQUID8 has secured pre-seed funding from SPIL Ventures, the venture capital arm of PT Salam Pacific Indonesia Lines (SPIL), a shipping and logistics firm, according to a statement.
Details of the transaction were undisclosed.
This marks the hitherto bootstrapped startup’s first external funding since its launch in 2023.
LIQUID8 was co-founded by Mike Roosevelt (CEO), a former Lazada Logistics Indonesia executive, and Niko Abdulrachman (COO), an expert in local distribution.
The two founders—friends for over 20 years since their college days in Seattle, US—saw an opportunity to optimise inventory flow, reduce waste, and create new economic opportunities through recommerce.
In an interview with DealStreetAsia, Roosevelt mentioned that Indonesia faces major inefficiencies in e-commerce logistics, with over 20% of shipments failing to reach customers, primarily due to the dominance of cash-on-delivery (COD) payments, especially in tier 2 and tier 3 cities.
