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Hello reader,
I have a slight addiction to online shopping. There’s just something really exciting about getting your package – it’s like I’m getting a present for me, from me.
I’ve always marvelled at the logistics that go into delivering these parcels. Sometimes, these packages come from abroad and have to cross land and sea. They also have to be delivered within a certain window, lest unhappy customers grouse about why their new shoes haven’t turned up in time for the special occasion they bought them for.
Logistics is hard, but I imagine it’s even harder when you’re dealing with items that need to be stored under particular conditions. It doesn’t matter much if clothes and shoes are in a cold box or sweltering in a warehouse. But other things such as food, cosmetics, and especially medications have to be kept at the right temperatures lest they go bad.
That’s where cold chain logistics come into the picture. Today’s premium story features an Indonesia-based startup that wants to raise funds to ship more of these perishable products by using AI and other tech.
Today we look at:
- Fresh Factory’s cold chain ambitions
- Alibaba’s new Hangzhou Taobao and Tmall Digital Technology Co
- Other newsy highlights such as ByteDance reportedly taking out a big loan and Alibaba allowing WeChat Pay on two of its ecommerce platforms
Premium summary
Ice, ice baby
Image credit: Timmy Loen
Fresh Factory, a cold chain fulfillment startup, is hoping to raise between US$10 million and US$15 million by the end of this year or in the first quarter of 2025 to expand its business.
- Keeping your cool: Founded in 2020, the Indonesian startup offers decentralized cold chain storage, pick-and-pack services, and last-mile delivery to both online and offline retailers. It primarily handles shipments of food, food-related products, and cosmetics.
- Money moves: Fresh Factory will use the funds to target middle and first-mile services and to launch less-than-container services, which allow customers to ship smaller cargo volumes without the need for a full container.
- Big picture: These efforts are part of the company’s plan to become a fully integrated cold chain provider. It is also looking to apply AI and IoT technologies to enhance its handling, storage, and transportation of temperature-sensitive products along the supply chain.
Read more: Fresh Factory eyes $15m to expand cold chain operations
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