TransTRACK® Closes Series A Funding and Ready to Expand to Asian Markets

IDX Channel (12/09/2024) – TransTRACK, a tech-enabler or technology provider for the logistics and transportation industry, is pleased to announce the closing of Series A funding in August 2024 amounting to $12 million or equivalent to Rp185 billion. Along with this, Anggia Meisesari as Founder and CEO TransTRACK was present on IDX Channel in the Power Breakfast: Create Up titled “TransTRACK Expansion Post Series A Funding” which explained about TransTRACK’s strategy and plans for the future.

The closing of this funding was followed by an investment from Cocoon Capital, which had previously participated since seed funding in August 2021, second funding in 2022, and pre-Series A in January 2023. Various investors decided to invest again because they saw great potential in the fast-growing logistics and transportation market in Asia.

“Since its inception five years ago, TransTRACK has shown rapid growth, both in terms of revenue and number of customers and units under management. In addition, TransTRACK has successfully developed new products that support green technology and diversified into various other industry verticals.” Said Anggia Meisesari, CEO and Founder of TransTRACK.

Expansion to Southeast Asia and the Pacific

With its presence in 135 cities in Indonesia and expansion into Malaysia and Singapore since March 2024, TransTRACK will use the Series A funding to expand its reach into Thailand, Vietnam, and Australia. TransTRACK adopts a strategy of expansion through local partnerships, where the company starts with a collaboration, conducts market penetration trials, and establishes an internal team that continues to work closely with local partners.

In Malaysia, TransTRACK has launched strategic collaborations with Perbadanan Islam Johor Malaysia and YGL World developing Warehouse Smart System solutions, as well as implementing the first halal logistics platform. In addition, TransTRACK’s solutions have also been deployed at Northport Klang Malaysia since last year. With this strategic partnership, TransTRACK accelerates market growth in the region.

Halal Logistics Solution and Green Technology

As a digitization platform, TransTRACK implements halal logistics that begins with tracking at the port, where every process of shipping, packing, and palletization has been distinguished between halal and non-halal products. This process is extended to the warehouse, including raw materials that are strictly controlled. This technology helps companies in Malaysia meet stringent halal logistics standards.

In addition, TransTRACK continues to innovate by developing eco-friendly products, targeting solutions that support environmental sustainability.

Technology for Efficiency and Productivity

As a tech enabler in the logistics and transportation industry, TransTRACK focuses on digitizing processes that have been known to be costly and complex. Through the implementation of end-to-end  Fleet Management System and Supply Chain Integrator solutions, TransTRACK helps improve fleet utilization, productivity, and profitability, while reducing operational costs by up to 30%, including fuel, labor, maintenance, and idle time costs.

In 2023, TransTRACK recorded a remarkable revenue growth of 344%, largely driven by the adoption of AI and machine learning technologies to improve fleet safety.

Long-term Strategy and Vision

TransTRACK is committed to building a strong ecosystem in the logistics and transportation sector by establishing long-term cooperation with associations, customers, and stakeholders. With a long-term goal of building a sustainable and profitable business, TransTRACK continues to innovate in developing green technology products that provide tangible benefits to the environment.

About TransTRACK

TransTRACK is a technology provider focused on digitizing logistics and transportation. With its end-to-end Fleet Management System and Supply Chain Integrator solutions, TransTRACK has become a key partner for companies to improve operational efficiency, reduce costs, and accelerate business growth across Southeast Asia and the Pacific region.