Heaptalk, Jakarta — A logistic startup focusing on fleet operation optimization and supply chain integration, TransTRACK has closed an oversubscribed Series A funding worth US$12 million. Eurazeo and Cocoon Capital led this strategic investment, with participation from IFP Securities, Bintang Delapan, and AppWork.
The fresh injection will fuel TransTRACK’s ambitious expansion across Southeast Asia, particularly Indonesia, Singapore, and Malaysia, with potential plans to venture into global markets like Australia and Taiwan. Furthermore, the startup aims to allocate the capital to widen its operations to 100 cities across the archipelago.
Southeast Asia’s logistics market is estimated to surpass US$55 billion by 2025, with the growing demand for e-commerce, urbanization, and efficient supply chain solutions. To capitalize on this potential, this startup intends to reach the region, including Malaysia, Thailand, Cambodia, and Vietnam, by integrating the Internet of Things (IoT) and Artificial Intelligence (AI) to optimize transportation and logistics operations.
“This investment reflects our team’s relentless dedication, and we are grateful to investors for their trust and support. We are excited to accelerate our growth and strengthen our role as a game changer in digitalizing fleet management across Southeast Asia,” Founder and CEO of TransTRACK, Anggia Meisesari, said.
Since its inception in 2019, the logistic startup has consistently grown by 20% monthly over the past year, attracting a substantial customer base across Indonesia, Malaysia, and Singapore. The company serves over 1,200 clients across 160 cities, with more than active subscriptions from diverse industries, such as logistics, retail, finance, mining, and agriculture.
According to the Investment Director of Eurazeo, Ernest Xue, logistics remain a cornerstone for SEA’s economic competitiveness, yet they are fragmented and inefficient. An innovative solution like TransTRACK is expected to bridge the existing gaps, reduce costs, and contribute to sustainability.
The business’s rapid trajectory is attributed to its ability to solve critical challenges in Southeast Asian logistics, such as fragmented supply chains, high operational costs, and inconsistent delivery performance. TransTRACK’s fleet digitization solutions have increased fleet productivity by up to 40% while reducing fuel and labor costs, idle times, and overall travel distance by up to 30%.
“TransTRACK’s rapid trajectory in achieving product-market fit and its commitment to sustainability is inspiring. We are proud to support their expansion into Southeast Asia and believe they will set new industry standards,” Venture Partner of Cocoon Capital, Carol Cheung, affirmed.
