TransTRACK Obtains Pre-Series A Funding Worth 31 Billion Rupiah

Startups tech enabler for digitizing the fleet (fleet) TransTRACK announces $2,1 million (over IDR 31 billion) pre-series A funding led by Ortus Star. This round also involved former investors Cocoon Capital and YCAB Ventures, as well as several new investors, including Goldbell Investment, NP Consulting, Damson Capital, and several angel investors.

Previously, TransTRACK has earned early stage funding in August 2021 valued at $570 thousand or around IDR 8 billion, involving Cocoon Capital, Accelerating Asia, and YCAB Ventures.

"Funding allows us to create greater value in the industry and strengthen our position in the transportation and logistics industry as a supply chain solution end-to-end. We hope to serve customers better with more comprehensive solutions in maximizing their movements by optimizing their fleet," said TransTRACK Founder and CEO Anggia Meisesari in a written statement.

TransTRACK targets to expand to 100 cities in Indonesia and in Southeast Asian countries including Malaysia, Singapore, Thailand, Cambodia and Vietnam, by providing end-to-end supply chain solutions for businesses in the region.

Currently, TransTRACK has started its operations in Malaysia and will soon enter the Singapore market this year with a focus on the rental business and lease. In addition, the company is also reportedly exploring potential collaborations in Thailand, Cambodia and Vietnam.

Founded by Anggia Meisesari and Aris Pujud, TransTRACK offers a solution that is claimed to increase productivity and fleet utilization by 40%, reduce overtime, fuel and labor costs, total mileage, and idle time by 30% by digitizing the company's fleet operations.

TransTRACK's main solutions include the Fleet Management System, Transportation Management, and the Truck Appointment System. In addition, TransTRACK offers complete visibility across the entire supply chain in a single platform for increased customer engagement, new revenue streams and margins as a logistics solution. end-to-end vision.

Since launching in April 2019, TransTRACK has reached more than 34 cities and served more than 600 clients. The service already has more than 50.000 subscription in various industries, ranging from logistics and public transportation, agriculture, mining, manufacturing, and government public services. In the last two years, the company is said to have achieved significant growth of 20% month-on-month. 

Sam Sumantri from Ortus Star added, TransTRACK has proven to be one of the fastest growing companies in the sector. "We are confident they will maintain their strong momentum in the years to come and create more value for their customers stakeholder in the industry."

Competition in the logistics sector

Based on data from the Central Statistics Agency (BPS), the transportation and warehousing sector will grow the highest in 2022 in terms of production at 19,87%. Logistics is a business that has experienced quite high growth in recent years.

However, reported from the site IDXChannel, PT Pos Indonesia revealed that the logistics sector in Indonesia has not been worked out optimally, even though those that reach business potential in this sector can reach IDR 4.000 trillion.

The Indonesian Logistics Association (ALI) projects that the logistics business in Indonesia in 2023 can grow by around 5% -8%. Meanwhile, Supply Chain Indonesia (SCI) predicts that the logistics contribution (transportation and warehousing sector) to the Gross Domestic Product (GDP) is projected to reach IDR 1.090 trillion in 2023.

Players in the Indonesian logistics sector are quite diverse, ranging from aggregator services, delivery, to fleet management. Several logistics services that focus on delivery, including AnterAja, Paxel, Sicepat, and J&T Express which recently succeeded in holding the title decacorn.

Besides that, there are also technology platforms that provide transportation management services such as Kargo Tech, Logisly, Waresix, and Andalin. Not only land transportation such as trucks, several platforms also cover air and sea transportation.