Indonesia-based logistic startup, Kargo Technologies debuts in Southeast Asia after raising a US$7.6 million seed round led by Sequoia Capital India. Kargo Technologies is also backed by Uber-founder Travis Kalanick’s 10100 Fund, and money from co-founder of Northstar Group, Patrick Walujo, an early investor in Go-Jek.
Kargo will invest in its infrastructure and technology. The company also plans to hire aggressively in Indonesia to build a world-class operations and technology team.
Founded in 2018, Kargo Technologies is a logistics startup that integrates shippers and logistics providers onto a single marketplace, aiming to solve inefficiencies and reduce costs.
Kargo’s CTO is Yodi Aditya, who had previously founded kargo.co.id, a logistics startup with a similar concept. Kargo Technologies, however, is a new, separate entity, a company spokesperson told KrASIA.
Kargo Technology’s team is lead by Tiger Fang, one of Uber’s earliest employees in Southeast Asia, who launched the US firm’s operations in Indonesia, Malaysia, and Thailand.
Given the size of Indonesia and its archipelagic geography, the size of its logistics market is huge. According to Kargo, it comprises nearly a quarter of the country’s US$1 trillion GDP.
Editor: Nadine Freischlad