Entrusted Officially Glides, Bridging the Need for Logistics Ship Services

Logistics plays an important role in the maritime industry, facilitating the movement of goods from various countries. With the increasing demand for efficient and smooth modes of transportation, the logistics sector continues to transform with its various innovations. Especially in the maritime segment, a startup called "Titip" exists as a platform that wants to present solutions online end-to-end to logistics players in Indonesia.

Startups born from venture builder Wright Partners this, officially launched offering services to target users. Prioritizing technology supported by artificial intelligence, Hold on to the concept marketplace B2B maritime logistics.

Want to maximize the performance of logistics ships

Based on the Logistics Performance Index (2023) published by the World Bank, Indonesia is still ranked 61st, below ASEAN neighbors such as Malaysia at 26th, Thailand at 34th, and Vietnam at 43rd. This shows that there is still much to be improved from the land logistics industry water to catch up to this.

Some of the problems currently present in the world of logistics are mismatch antara supply-demand logistics needs. This mismatch results in the level of utilization of the ship owner's transportation mode being not optimal. Coupled with a documentation process that is not yet fully efficient, this has an impact on high logistics costs.

At the launch event (15/5), Business Development Manager Entrusted Fernando Budiargo said that currently there are still many ship owners or those (transporter) have not yet used their ships optimally. On the other hand, renter companies (charter) still having difficulty finding ships that suit their needs for shipping their cargo.

This innovation is what Titip wants to present through technological solutions, with the mission of encouraging a more efficient and more transparent maritime logistics operations process.

"On the Titip platform, users will be able to advertise their cargo/ships and search for cargo/ships according to their needs. Users will also carry out logistics transactions end-to-end digitally, starting from ordering, preparing contracts, tracking to paying off transactions," said Fernando.

Currently, Titip has received initial funding from investors who declined to be named. The focus in their initial debut was acquiring more shipowner partners to join the platform, while offering more services to cargo owners. The company is currently still working on the right formula for the ideal monetization strategy for them to apply to ship owners and cargo owners.

Application of AI technology

In particular, Titip presents a series of logistics technologies such as matchmaking algorithm, digital contracting, real-time monitoring through geolocation and digital documentation which has been integrated into one platform. Users will gain many benefits, including increasing business scale through expanding the business network and increasing operational capacity through searching for additional vessels from a verified network.

Entrust verification for each registered user, to ensure a sense of security in carrying out transactions. And to ensure service transparency, users will always be able to access digitally stored transaction documents. In addition, Titip has customer support available, which can be communicated to account Manager and sales support which can help with all transactions or operational activities that occur on the platform.

The company targets to be one stop shop for all matters relating to transactions in commodity logistics (such as coal, nickel, CPO/palm oil), including financing, carbon tracking and agency. Currently Titip can be accessed via the website, but in the future the company has plans to launch the application to target users.

"In order to speed up the innovation process, Titip has collaborated with a number of leading companies such as Microsoft through the program Microsoft for Startups Founders Hub. In this program, Titip worked closely with experts from Microsoft's Digital Native team to design the architecture using technology and tools they. "The aim is clear, to empower the logistics sector in Indonesia, and encourage economic and social progress in the country," said Fernando.

Wright Partners Support

Titip is the first portfolio from Wright Partners that focuses on providing integrated solutions for maritime logistics. Judging from the existing potential, Wright Partners sees that what Titip is presenting has the potential to achieve profitability, in accordance with their vision and focus.

Wright Partners partner Rangga Maharga said their focus was looking for markets that still had big problems, and how the startup could find solutions.

"We see that currently maritime logistics is still a large market and not many are trying to provide services to related parties. Titip is the first platform to provide solutions in this way, with the ultimate goal of helping players in related industries. Starting from helping with exports to finding affordable costs," said Rangga.

Founded by Arnold Egg and Ziv Ragowsky, Wright Partners founded venture builder which consists serial entrepreneur and experts in the technology industry. As an entity that focuses on activities venture building, the business model offered by Wright Partners is quite different and unique. The company works closely with corporates to assist them in running corporate innovation. The two services offered include Corporate Venture Building and CVC as a Service.