Kargo Secures Strategic Investment from Coca-Cola affiliate, Amatil X
At Kargo Technologies, we aspire to reimagine the logistics industry in South East Asia, making it much more efficient with technology. Our goal is to build products and services to better serve our customers in the industry. We try to solve our customer’s evergreen problems, make the industry much more efficient, and improve the quality of many people’s lives. More simply put, we are trying to be the most customer centric company in South East Asia.
Today, we’re excited to share that one of our biggest customers, Coca Cola Amatil has joined our exciting journey to disrupt the industry by completing strategic investment in our company with their venture capital arm, Amatil X. The strategic investment has shown us not only the potential of the market, but also how far our customer obsession brought us. Like us, Coca Cola Amatil believes that the challenging problems in the industry are worth solving.
“Kargo Technologies is our first startup investment in Indonesia and we are excited to be partnering with them to improve our overall logistics capability. Kargo is fulfilling two key land transportation routes for us and we expect this to increase over time as Kargo’s network expands,” said Coca-Cola Amatil Indonesia President Director Kadir Gunduz.
In Indonesia, road logistics amount to 16% of GDP with approximately $40B spent on trucking each year. The industry is highly fragmented, with seven million trucks operating across 17,000 islands. 90% of trucking companies have 100 trucks or less and 75% have 20 trucks or less. Kargo is building the digital infrastructure to bring efficiency to Indonesia’s logistics system.
In several media releases, we’ve explained that we will use the capital to address all Coca-Cola’s trucking needs, including digitizing its supply chain in Indonesia. We will also use part of the new funds to provide loads and cash flow to help our transporters survive the negative impact of the COVID-19 pandemic.
We are committed to helping truckers move essential supplies during these challenging times with Coca Cola Amatil, our new partner. We will do our part as best as we can to help Indonesia fighting Covid-19. Not only that, we also collaborate with AKAR restaurant, which provides 600 food boxes every day to be distributed to healthcare staff at the Gatot Subroto Hospital and RSPI Sulianti Saroso in Jakarta as logistics partners.
So stay at home, Kargo will deliver.