Logistics Startup Kargo Technologies Gets Fresh Funds From Sequoia India and Uber Founder Travis Kalanick Worth 107 Billion Rupiah

Kargo Technologies, a logistics marketplace that connects trucking companies and service providers, announced a $7,6 million (over 107 billion Rupiah) funding round led by Sequoia India and the 10100 Fund -- the latter of which was co-founded by Uber Co-Founder Travis Kalanick. This is Travis' first investment in Southeast Asia.

First time in-cover by Deal Street Asia, participated in this funding a number of investors, namely Pandu Sjahrir from Agaeti Ventures, Northstar Group Co-Founder Patrick Walujo, Intudo Ventures, Zhenfund, ATM Capital, and Innoven Capital. The funds will be used to strengthen the company's infrastructure and technology team.

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 e-commerce and FMCG companies.

The growing e-commerce industry in Indonesia, estimated to reach $53 billion by 2025 according to a Google and Temasek study, contributes to the development of a more efficient and smart logistics industry.

Cargo Technologies offers a mobile-based platform, currently in beta and will be launched in the near future, on the Android platform to make it easier for enterprise users and shippers to interact and monitor the movement of shipments in real time. real-time.

The forerunner of the current Cargo is Cargo fee which was founded by Yodi Aditya in 2016 and was supported by East Ventures. We have received information that East Ventures has full exit and the company was sold to Tiger Fang who became the new CEO. In the logistics and warehousing segment, East Ventures is now supporting Waresix.

In a statement, Tiger said, “Cargo is designed to correct issues of availability, price transparency and lack of trust in the payment process through one easy-to-use application.