TransTRACK Founder Anggia Meisesari (L) and co-founder Aris Pujud Kurniawan
TransTRACK, an Indonesian fleet-tracking startup, has announced the closure of its oversubscribed US$12 million Series A funding round.
Eurazeo and Cocoon Capital led the round, which also saw participation from IFP Securities, Bintang Delapan, and AppWorks.
The logistics tech venture will use the money to accelerate its expansion across Southeast Asia, particularly in Indonesia, Singapore, and Malaysia. The firm also plans to expand beyond the region, targeting global opportunities in markets like Australia and Taiwan.
Founded in 2019 by Anggia Meisesari and Aris Pujud Kurniawan, TransTrack offers an AI- and IoT-powered fleet management system, transportation management system, and truck appointment system for logistics companies that aim to optimise their operations.
It also provides visibility across the supply chain in a single platform, increasing customer engagement, new revenue streams, and margins, driving productivity, efficiency, and business growth. The startup also offers a carbon emission dashboard, carbon footprint analytics, and marine transport optimisation.
TransTRACK’s solutions are effective in Southeast Asia due to their ability to address common challenges, such as fragmented logistics networks, high operational costs, and inconsistent delivery performance. By digitalising fleet operations, TransTRACK enables businesses to increase productivity and fleet utilisation by 40 per cent while reducing overtime, fuel and labour costs, total miles, and idle time by 30 per cent.
With real-time visibility, predictive analytics, and streamlined processes, businesses can optimise operations, minimise delays, and improve service levels.
Today, TransTrack serves over 1,200 clients across 130 cities in Indonesia and 30 cities in Malaysia and Singapore, with over 150,000 subscriptions. Its solutions cater to various sectors, including logistics, public transport, retail, finance, mining, ports & marine, industrial services, and plantation & forestry.
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The venture claims to have achieved 20 per cent month-on-month growth over the past year.
In January 2023, TransTRACK secured US$2.1 million in a pre-Series A funding round from Ortus Star, Cocoon Capital, YCAB Ventures, Goldbell Investment, NP Consulting, Damson Capital, and unnamed angel investors.
Southeast Asia’s logistics sector is projected to be worth over US$55 billion by 2025. With the rapid rise of e-commerce, urbanisation, and the increasing demand for efficient supply chain solutions, TransTRACK aims to capture a substantial market share in key regional markets, including Malaysia, Singapore, Thailand, Cambodia, and Vietnam.
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Image Credit: TransTRACK.
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