Heaptalk, Jakarta — A logistic startup, TransTRACK, demonstrated its excellent business performance by growing its revenue up to 344% and increasing its customer fleet units by 214% in 2023.
Additionally, this tech startup saw an average monthly revenue enhancement of 14% and a corresponding 12% increase in the average monthly number of customer fleet units. This momentum solidifies TransTRACK’s position in the archipelago tech landscape, transforming various sectors by improving efficiency and optimizing transportation and logistics activities with the Internet of Things (IoT) and Artificial Intelligence (AI).
Commenting on the growth, Founder and CEO of TransTRACK, Anggia Meisesari, delivered, “Moving forward, we remain committed to innovation to enhance customer satisfaction by further developing our products and services. Besides leveraging IoT and AI, we will prioritize green technology to bolster sustainable development,”
Established in 2019 with its early operation in Jakarta and Bandung, TransTRACK has expanded its business reach into 110 Indonesian cities and 30 cities in Malaysia. Throughout last year, this startup observed a 74% increase in customers, exceeding 1,100 in number, and managed more than 135,000 fleet units, reflecting a 214% improvement from the previous year.
Last year, TransTRACK launched a Supply Chin Integrator technology to optimize business activities by integrating logistics players, such as goods owners, fleet operators, and third-party logistics (3PL) providers.
In terms of funding, TransTRACK bagged new funds at USD2.1 million, or equal to Rp31 billion, in a Pre-Series A round led by Ortus Star. This round is followed by its existing investors, including Cocoan Capital and YCAB ventures, as well as new investors spanning Goldbell Investment, NP Consulting Damson Capital, and multiple angel investors.
To expand its market presence, the team will continue focusing on six industrial sectors: logistics, public transportation, mining, financial services, plantation and forestry, and port and marine. TransTRACK will also forge strategic partnerships with organizations and associations to deepen its market penetration in Indonesia and SEA, particularly Malaysia and Singapore.
“We integrate various vehicle sensors to capture big data, supported by AI. We are at the forefront of AI development, offering products such as Driver Management System (DMS) for analyzing driver behavior and fatigue, Advanced Driver Assistance System (ADAS) to boost driver safety, and Route Optimization to optimize travel routes. Internally, AI streamlines processes such as coding, code quality analysis, and security, enhancing efficiency and resource optimization,” Co-founder and CTO of TransTRACK, Aris Pujud Kurniawan, said.
