TransTRACK Raises Rp185 Billion in Series A Funding to Transform Logistics and Transportation Sector

TransTRACK, a startup that digitizes fleet operations through solutions fleet operation optimizer and supply chain integrator, announced the closing of a $12 million or Rp185 billion Series A funding round. The round was led by Eurazeo and Cocoon Capital, with support from IFP Securities, Bintang Delapan, and AppWorks. The round continue pre-series A funding which was recorded in June 2023 for $2,1 million (more than IDR 31 billion) led by Ortus Star.

With the additional capital obtained, TransTRACK will accelerate its expansion throughout Southeast Asia, especially deepening its penetration in the Indonesian, Singaporean, and Malaysian markets. Then it will start exploring the Australian and Taiwanese markets.

“With this support, we are not only accelerating our expansion but also strengthening our role as game changer in transforming the digitalization of fleet management in Southeast Asia. Since our founding, we have been committed to driving innovation in logistics and fleet management, and with this funding, we are excited to expand our operations and meet the growing demand from our customers,” said TransTRACK Founder & CEO Anggia Meisesari.

Huge potential in the logistics sector

As the logistics sector in Southeast Asia is projected to be worth more than $55 billion in 2025, TransTRACK ambitious to be at the forefront of this transformation. With the rapid increase E-commerce, urbanization, and increasing demand for efficient supply chain solutions, solutions end-to-end TransTRACK's innovative platform is poised to capture significant market share in key regional markets, including Malaysia, Singapore, Thailand, Cambodia and Vietnam.

This momentum further strengthens TransTRACK's presence in the Southeast Asian technology industry, transforming various sectors by increasing efficiency and optimizing transportation and logistics through the application of technology. Internet of Things (IoT) and Artificial Intelligence (AI). In addition, TransTRACK's green technology solutions, including carbon emission dashboard, carbon footprint analysis, and marine transportation optimization, are ready to support Indonesia's carbon tax implementation in 2025.

By digitizing fleet operations, TransTRACK claims to enable companies to increase productivity and fleet utilization by 40% while reducing overtime, fuel and labor costs, total mileage, and idle time by 30%. With visibility real-time, predictive analytics, and streamlined processes, businesses can optimize operations, minimize delays, and improve service levels, making TransTRACK a key partner in addressing the unique logistics challenges faced across this regional region.

“Logistics remains key to the overall competitiveness of Southeast Asia’s economies, yet the sector faces fragmentation and inefficiencies given the region’s infrastructure challenges. There is huge potential for the right players to develop solutions that alleviate this dislocation and lower logistics costs, while reducing emissions and improving safety standards for operators, passengers and cargo across the industry,” said Eurazeo Investment Director Ernest Xue.

He continued, “Our investment in TransTRACK demonstrates our belief that sustainable products emerging from the nexus of data and mobility will be transformative for one of the world’s most traditional industries. As a global investor who has supported the decarbonization of logistics around the world, we are committed to partnering with entrepreneurs who are working hard to create solutions that contribute to the decarbonization of Southeast Asia and help businesses reduce their carbon footprint and create more sustainable cities.”

Business growth

TransTRACK has shown tremendous growth since its inception in 2019, achieving a monthly growth of 20% over the past year. Currently, TransTRACK has served more than 1.200 clients in 130 cities in Indonesia and 30 cities in Malaysia and Singapore, with more than 150.000 subscription, serving various sectors including logistics, public transportation, retail, finance, mining, ports & marine, industrial services, and plantations & forestry.

The new funding will fuel TransTRACK’s ambitious plans to expand its operations to 100 cities across Indonesia and further strengthen its presence in Southeast Asia’s fast-growing logistics and transportation market.

This funding round marks a significant milestone in the company’s growth, as TransTRACK continues its journey of innovation and expansion. With the support of leading investors, TransTRACK is poised to become a key player in Southeast Asia’s logistics and transportation sector, driving efficiency, sustainability and growth across the region.