TransTRACK, a tech-enabler startup specializing in fleet operation optimization and supply chain integration, has successfully closed its oversubscribed US$12 million Series-A funding round.
The round was co-led by Eurazeo and Cocoon Capital, with additional participation from IFP Securities, Bintang Delapan, and AppWorks.
This investment is a significant milestone for TransTRACK as it accelerates its expansion across Southeast Asia, focusing on key markets in Indonesia, Singapore, and Malaysia.
The company is also eyeing global opportunities in markets such as Australia and Taiwan.
As Southeast Asia’s logistics sector is projected to surpass US$55 billion by 2025, TransTRACK is well-positioned to capitalize on the region’s rapid growth.
The rise of e-commerce, urbanization, and the increasing demand for efficient supply chain solutions have created a favorable environment for TransTRACK’s innovative end-to-end solutions.
The company aims to capture substantial market share in regional markets including Malaysia, Singapore, Thailand, Cambodia, and Vietnam.
TransTRACK is making significant strides in Southeast Asia’s tech industry by transforming multiple sectors with its application of Internet of Things (IoT) and Artificial Intelligence (AI) technologies.
The company’s green technology solutions, including a carbon emission dashboard and carbon footprint analytics, align with the anticipated implementation of Indonesia’s carbon tax in 2025.
With a projected tax rate of IDR 30,000 per kilogram of CO2, TransTRACK is positioned to assist businesses in reducing their carbon footprint and complying with upcoming regulatory requirements.
The company’s digital fleet operations solutions address common challenges in the region, such as fragmented logistics networks and high operational costs.
By enhancing productivity and fleet utilization by 40% while reducing costs and idle time by 30%, TransTRACK enables businesses to optimize their operations and improve service levels, making it a valuable partner in overcoming logistical challenges across Southeast Asia.
Under the leadership of Anggia Meisesari, Founder and CEO, and Aris Pujud Kurniawan, Co-founder and CTO, TransTRACK has shown impressive growth since its inception in 2019.
The company serves over 1,200 clients across 130 cities in Indonesia and 30 cities in Malaysia and Singapore, with more than 150,000 subscriptions.
The latest funding will support TransTRACK’s plans to expand its operations to 100 cities across Indonesia and further establish a strong presence in Southeast Asia’s logistics and transportation markets.
With this new capital, TransTRACK is set to continue its journey of innovation and expansion, solidifying its role as a key player in Southeast Asia’s logistics and transportation sectors.
Business News Asia