Left to Right: Tramés co-founders Ivan Seow (Chief Supply Chain Officer); Kevin Lim (CEO); Alok Rajiv (CTO)
Singapore-based logistics tech startup Tramés today announced that it has raised an undisclosed seed funding round led by Kamet Capital Partners.
In a press statement, the company said that the funding will be used to build the team and further develop its product to better serve the SME market.
Founded in 2019 and headquartered in Singapore, Tramés is an end-to-end supply chain orchestration technology company, which aims to create a streamlined and unified workflow for shippers and their logistics partners.
It aims to help clients by convening stakeholders and other partners onto a collaborative, digital platform, thus reducing physical paperwork and the number of manual touchpoints in any supply chain.
Its platform included features such as a blockchain-enabled document repository to facilitate collaborative drafting and confirmation of shipping documentation.
“In one industry report, it is said that one cross-border shipment goes to about 20 different individual stakeholders across multiple organisations and have 200 different touchpoints and updates being made to this particular shipment. This is a very highly manual process,” Tramés CEO Kevin Lim explained to e27 in an interview.
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“This results in high shipping administrative costs, usually accounting up to about 20 per cent of total freight costs,” he continues.
When asked about what differentiates Tramés from other startups that are offering similar services, Lim said that the answer lies in the company’s enterprise-centric approach. This means that it is able to cater to the needs of enterprises who tend to have a more complex supply chain.
“We are able to create this end-to-end visibility across inbound and outbound processes,” Lim said.
The company started out after the team learned about the challenges that MNCs face in their supply chain and the opportunities that have not been tapped before. It started out by working with a coal-mining company.
Since its inception, Tramés has successfully established a partnership with a Fortune 500 global multinational corporation (MNC) in the energy management and automation sector, to orchestrate their international supply chains.
Logistics tech is one of the verticals that, according to many experts, experiences a surge of demand during the COVID-19 pandemic as companies are looking for ways to digitalise their operations.
“The good news is that there is no one specific type of technology or one specific type of business model that will be successful,” said Marc Dragon, Managing Director of Reefknot Investments, in a recent interview with e27 when being asked about the opportunities available for logistics tech startups.
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Image Credit: Tramés
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