Indonesian fleet tracking startup nets $550k in seed round

TransTrack, an Indonesia-based fleet-tracking startup, raised S$750,000 (around US$550,000) in a seed funding round led by Cocoon Capital, a Singapore-headquartered venture capital firm. Indonesian Women Empowerment Fund (IWEF), a joint venture fund between Moonshot Ventures and YCAB Ventures, also participated in the round.

Recently, TransTrack graduated from Accelerating Asia and also received an investment from the Singapore-based accelerator program.

Photo credit: tomas1111 / 123RF.

Founded by Anggia Meisesari and Aris Pujud Kurniawan in 2019, TransTrack offers fleet-monitoring solutions for logistics companies that aim to optimize their operations. The platform can collect and provide data such as location, fuel level, mileage, and maintenance alerts from vehicles.

It currently supports thousands of vehicles in Indonesia and can integrate with more than 1,000 existing geo-location devices in the market.

The company plans to use the fresh funds to get more customers by expanding its network of partners and developing its product.

Michael Blakey, managing partner at Cocoon Capital, joined TransTrack’s board of directors following the funding round.

Currency converted from Singapore dollar to US dollar: US$1 = SG$1.36