TransTRACK seeks to further expand the company’s operations to 100 cities in Indonesia and in the Southeast Asia countries including Malaysia, Singapore, Thailand, Cambodia, and Vietnam
Jakarta, 22 June 2023 – TransTRACK, a tech-enabler startup focused on digitalizing fleets through fleet operation optimizer and supply chain integrator solutions, announces its $2.1 Million pre-Series A funding round. This round was led by Ortus Star, with the participation of previous investors, Cocoon Capital and YCAB Ventures. The new investors include Goldbell Investment, NP Consulting, Damson Capital, and prominent business angel investors. This pre-Series A funding demonstrates TransTRACK’s solid growth and its expansion in the Southeast Asia market.
Since its last fundraise, TransTRACK has achieved an impressive 20% month-on-month growth. The company now covers more than 34 cities in Indonesia, serves more than 600 clients in its portfolio and has more than 50,000 subscriptions across various industries ranging from logistics and public transportations to agriculture, mining, manufacturing, and government public services.
The funding seeks to further expand the company’s operations to 100 cities in Indonesia and in the Southeast Asia countries including Malaysia, Singapore, Thailand, Cambodia, and Vietnam, providing an end-to-end supply chain solution for the business players in the region.
TransTRACK has initiated its operations in Malaysia and made its entry into the Singapore market this year with a primary focus on the rental and leasing business. Additionally, it also is exploring the collaboration potentials in Thailand, Cambodia, and Vietnam.
Sam Sumantri, Ortus Star, said, “We are thrilled to participate in this round, as TransTRACK has proven to be one of the fastest-growing ventures in this sector. We are confident that they will sustain their strong momentum in the coming years and create more value for the industry stakeholders.”
Anggia Meisesari, Founder and Chief Executive Officer of TransTRACK, said, “This exciting milestone will allow us to accelerate our product development and enhancement, as well as our regional expansion. The funding will allow us to create even more value in the industry and enable us to strengthen our footing in the transportation and logistics industry as an end-to-end supply chain solutions. We look forward to serving our customers better by providing a more comprehensive solution in maximizing their move by optimizing their fleets,”
In addition to its main offerings which include fleet management system, transportation management system, and truck appointment system, it also offers complete visibility across the supply chain in a single platform to increase customer engagement, new revenue streams and increase margins as an End-to-End Logistics Solution to drive productivity, efficiency and business growth.