The Coldspace team (left to right): Arnold Giovanni (CEO), David Loei (Head of Sales), Ivan Liadi (Head of Business Development & Product), and Jan Sunaryanto (Head of Finance)
Coldspace, an Indonesian integrated cold chain solutions provider, today announced the completion of a US$3.8 million seed funding round led by Intudo Ventures, PT Adi Sarana Armada Tbk (ASSA) via its subsidiary PT Adi Sarana Investindo (ASI), and Triputra Group with participation from MKA dan ITS.
This marks the company’s first external funding round.
With this funding, Coldspace plans to expand its service capacity, including greater capacity for cold storage, reefer trucks, fulfilment, and geographic expansions; launch a suite of management solutions for customers to help manage and track products, including its Warehouse Management System (WMS) and Transportation Management System (TMS) and provided to customers as a free value-add service to perform analytics, offer training and improve service quality.
“We appreciate our investors’ trust in Coldspace, as we are building the first end-to-end cold chain service provider in Indonesia catering for both B2B and B2C customers, allowing businesses to expand quickly and achieve agility in their distribution coverage,” said Arnold Giovanni, co-founder and CEO of Coldspace.
“Building more than 15 distribution points within three months of launch has demonstrated our ability to scale quickly, and we will accelerate this process by leveraging our strategic investors’ logistics ecosystem to provide best-in-class operational excellence and competitive pricing.”
Also Read: 5 smart ways to decarbonise supply chains and logistics with AI
The company offers businesses and consumers cold storage facilities and reefer trucks through its own inventory as well as a third-party aggregated marketplace of cold chain partners empowered through the company’s tech stack. Through its marketplace, Coldspace aims to provide a superior pricing scheme for customers, while improving utilisation for partners through supply and demand matching.
Coldspace also provides cold fulfilment solutions designed to enable quick commerce services, through a hub-and-spoke model that ensures rapid delivery of temperature-sensitive products. Coldspace works with importers, exporters, distributors, food & beverage producers, logistics companies, and other businesses to provide transparent and efficient storage and transportation of temperature-sensitive products.
Within the food & beverage category, Coldspace offers services for fisheries, meat & poultry producers, pre-packaged meals and beverages, dairy, fruit and vegetable vendors, as well as pharmaceutical products with prudent SLA and product management.
Coldspace is led by Arnold Giovanni (CEO), Ivan Liadi (Head of Business Development & Product), David Loei (Head of Sales), and Jan Sunaryanto (Head of Finance).
It is currently operating in the Greater Jakarta Region (Jabodetabek), Surabaya, Malang, Bali, and Medan, with plans to expand throughout the country.
—
Echelon Asia Summit 2023 is bringing together APAC’s leading startups, corporates, policymakers, industry leaders, and investors to Singapore this June 14-15. Learn more and get tickets here.
Echelon also features the TOP100 stage, where startups get the chance to pitch to 5000+ delegates, among other benefits like a chance to connect with investors, visibility through e27 platform, and other prizes. Join TOP100 here.
Image Credit: Coldspace
Anisa Menur Maulani also contributed to this story.
The post Coldspace raises US$3.8M in seed round led by Intudo Ventures appeared first on e27.