Pockets Early Stage Funds, TransTRACK.ID Boosts Product Development of Logistics Fleet Management

After officially launching in April 2019, the fleet management service provider TransTRACK.ID managed to close the initial funding round. The investors involved are Cocoon Capital, Accelerating Asia, and PT Venture Capital YCAB.

Overall they managed to raise an investment of SGD755 thousand (equivalent to $570 thousand or 8 billion Rupiah). Previously, TransTRACK.ID was also one of the selected participantsDSLaunchPad 2.0. This startup was founded by two founder, namely Anggia Meisesari and Aris Pujud.

"The fresh funds will be used to support product development and growth Sales. Currently TransTRACK.ID is also looking for strategic partnerships and relationships for the next funding round," said Anggia as CEO.

During the pandemic the company recorded growth revenue more than 150% than before. The magnitude of the need for transportation and logistics during the pandemic makes it operate with full potential to supply products and services. These conditions are crucial for monitoring the proper use and functioning of the fleet, drivers, and safety.

"TransTRACK.ID is here to help our customers operating in the logistics and support sectors, so they don't have to face various problems such as late deliveries, theft, bad drivers, inefficient costs, and the difficulty of integrating into other systems," he continued. Anggia.

Until now, there are almost 3000 users of the TransTRACK.ID system. The company can serve customers throughout Indonesia, by service points while currently located throughout the islands of Java, North Sumatra, and South Sumatra. TransTRACK.ID focuses on B2B and B2B2C business models.

For logistics fleet tracking services, there are already several startups in Indonesia that are trying to provide solutions. Among them Track.io, Waresix, Logisly, Webtrace, and others.

Platform advantages

Revenue streams they are mostly from subscription fees (subscription fee) for the use of the Fleet Management System and other complementary and supporting applications such as Transportation Management System, Employee Tracking, Vehicle Maintenance and Driver Management. In addition, the company also earns revenue from software sales (GPS equipment and sensors) as well as development projects.

TransTRACK.ID also provides accident compensation (without additional costs) for customers whose vehicles are equipped with equipment, amounting to a maximum of IDR 50 million per person in the event of death, permanent disability, and medical expenses of a maximum of IDR 5 million per person. This compensation applies to 1 driver and 1 passenger, regardless of identity, who was in the vehicle at the time of the accident.

"Our platform is very flexible and can be integrated with more than 1000 types of GPS devices on the market, easy to adapt to customer needs, easy to integrate with other systems, multiple alerts and good notifications via SMS, push notification di mobile apps, browsers, and windows, also by e-mail directly real time, multiple reports, and multiple users whose access rights can be regulated," said Anggia.

The potential of the fleet telematics platform

Currently, the number of land vehicles in Indonesia has reached more than 150 million units, and the logistics market in Indonesia is very large. It is predicted to reach $300,3 billion by 2024. The need for the use of fleet telematics is increasing.

This is based on the need to track and monitor vehicle usage, drivers, and safety. Government regulations, in this case the Ministry of Transportation, have issued the rules through PP No. KP.2081/AJ.801/DRJD/2019 which requires the use of GPS for all public transportation operators to monitor operations and improve efficiency.

However, according to a survey conducted by the Indonesian Telematics Equipment Industry Association, the use of GPS tracking on public transport in Indonesia is still less than 10%, or less than 2% of the total number of vehicles in Indonesia. This shows that there is still huge potential for the growth of fleet telematics technology services in Indonesia, such as the services offered by the TransTRACK.ID platform.