Indonesian on-demand inter-city B2B logistics startup Kargo today announced that they have received an undisclosed amount of seed funding from East Ventures and angel investor Diono Nurjadin.
The Jakarta-based startup plans to use the funding to develop technology and increase partnerships with logistics vendors and companies across Indonesia.
“With the help of Mr. Diono [Nurjadin]’s experience, Kargo will be able to take strategic approach in penetrating logistics market in Indonesia. East Ventures had also helped us in product market fit. This combination will give a strong support for Kargo’s development,” Kargo CEO Yodi Aditya told DailySocial.
As President and CEO of Indonesia’s leading aviation and food service provider Cardig Aero Services, Nurjadin is currently a member of angel investor network ANGIN.
Kargo’s services are currently available in Sumatra, Java, and Bali. The company focusses on corporate market and has no plan so far to enter the retail market.
Kargo utilises an online dashboard that aims to make delivery process more trustworthy and cost efficient, helping with truck booking, tracing, insurance, payment, and vendor management.
Indonesia’s logistics sector is claimed to worth US$163 billion according to a statement by the company. Facing several infrastructural challenges, the sector is believed to be in dire need of disruption, according to East Ventures Managing Partner Willson Cuaca.
“Logistics is a key success factor for Indonesian commerce activities and we believe that the technology developed by Kargo will be able to empower Indonesia’s competitive advantage in domestic and international markets,” he said.