Kargo Technologies takes over Coca-Cola's logistics in Indonesia
Indonesian startup Kargo Technologies has secured a strategic investment for Coca-Cola’s VC arm Amatil X. The exact amount of the transaction remains undisclosed.
The company is planning to use the funds to take care of Coca-Cola’s logistics in Indonesia. Kargo is going to digitize the supply chain and reorganize the trucking operation. The startup will also support the drivers to overcome the impact of the coronavirus pandemic.
Kargo Technologies has launched in 2018. The startup created a digital marketplace for logistics providers and shippers. Transporters can contact each other, establish transactions and track their loads in real time. They can also browse job offers and book the platforms online.
According to the company’s CEO Tiger Fang, the regional transportation industry is very fragmented. There are over 7 million trucks that deliver cargo on 17 000 islands. The company attempts to provide comprehensive service to all companies, both big and small.
In 2019 Kargo has successfully closes a seed round and secured US$7.6 million in funding.