Indonesia-based fleet-tracking startup TransTRACK has secured US$2.1 million in a pre-Series A funding round.
Ortus Star, Cocoon Capital, and YCAB Ventures led the funding round. Goldbell Investment, NP Consulting, Damson Capital, and unnamed angel investors participated.
TransTRACK plans to use the fresh funds to expand operations to 100 cities in Indonesia and other Southeast Asian countries, including Malaysia, Singapore, Thailand, Cambodia, and Vietnam, providing an end-to-end supply chain solution for the business players in the region.
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Founded by Anggia Meisesari and Aris Pujud Kurniawan in 2019, TransTrack offers a fleet management system, transportation management system, and truck appointment system for logistics companies that aim to optimise their operations. It also offers complete visibility across the supply chain in a single platform to increase customer engagement, new revenue streams, and margins to drive productivity, efficiency, and business growth.
“The funding will allow us to create even more value in the industry and enable us to strengthen our footing in the transportation and logistics industry as an end-to-end supply chain solution. We look forward to serving our customers better by providing a more comprehensive solution in maximising their move by optimising their fleets,” said Meisesari.
TransTRACK claims it has achieved 20 per cent monthly growth since its last fundraise. The company now covers over 34 cities in Indonesia, serves more than 600 clients in its portfolio, and has over 50,000 subscriptions across various industries ranging from logistics and public transportation to agriculture, mining, manufacturing, and government public services.
TransTRACK has initiated its operations in Malaysia and entered the Singapore market this year, primarily focusing on the rental and leasing business.
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Image credit: TransTRACK
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