1. Startups

Coca-Cola's CVC "Amatil X" Makes Its First Investment in Kargo Technologies

A logistics marketplace developer startup that connects logistics truck companies and service providers

After officially launching in early 2019, Coca-Cola Amatil Indonesia (Amatil Indonesia) through the initiative corporate venture capital (CVC) Amatil, has established strategic partnerships with startups in Indonesia.

The latest collaboration announced is with Kargo Technologies, carried out to help expand business strategy and logistics digitization processes in Indonesia. This collaboration also resulted in Amatil X's first investment in Indonesian startups, which is expected to improve Amatil's overall logistics capabilities.

"As the driving force behind Indonesia's favorite beverage brand, we believe that our investment in Kargo Technologies will support Amatil Indonesia's ambition to become a leading player in Indonesia's digital ecosystem," said Coca-Cola Amatil Indonesia President Director Kadir Gunduz.

It was not stated further how much investment Amatil X gave to Kargo Technologies. However, according to their commitment, Amatil X not only increases the company's competitive advantage through CVC, but also wants to help and cooperate with the right local startups for Amatil Indonesia's business.

"Currently, Amatil X is focused on investing in startups that offer innovation for product sales strategies to consumers, delivery of beverages, helping customers to grow and reducing the impact on the environment. Amatil X is also looking for startups that can support the company's efforts in solving business challenges and help improve customer service better," said Alix Rimington, Head of Amatil X, Coca-Cola Amatil.

Strengthen logistics and optimize supply chain

Cargo Technologies team and management

According to CEO Cargo Technologies Tiger Fang, technology-enabled logistics is a proven trend in other markets, including India, China and the United States. We also welcome this strategic partnership and look forward to working with Amatil Indonesia to further digitize and optimize their supply chain in Indonesia.

Later, the funding provided by Amatil X will be used by the company to meet the logistics needs needed by Coca Cola Amatil and improve the efficiency of logistics operations with Kargo Technologies' technology.

Founded by former Uber Indonesia Country Manager Tiger Fang (CEO) and Yodi Aditya (CTO), Kargo Technologies sees the problem that trucks have been returning unloaded after delivery at production centers. Kargo Technologies hopes to minimize this while meeting the needs of companies E-commerce and FMCG.

In particular, the company offers a mobile-based platform, on the Android platform to make it easier for company users and senders to interact and monitor the movement of shipments in real time real-time.

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"Kargo Technologies connects businesses and their shipping needs with trucking companies that own vehicles, with available cargo space nearby. Most importantly, Kargo can pick up multiple loads for backhaul. This means trucks can return with less empty loads, allowing them to maximize revenue and better distribute costs,” said Tiger.

Kargo Technologies is a logistics marketplace that connects trucking companies and service providers. Mid last year they raised $7,6 million in funding (over 107 billion Rupiah) led by Sequoia India and the 10100 Fund — the latter of which was founded by Uber Co-Founder Travis Kalanick.

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