Brief: AI-powered logistics software startup raises $2.5m to grow in Asia-Pacific

Photo credit: urfingus / 123RF.

Singapore-based Yojee develops software that enables logistics providers to automate their business. The startup offers them real-time tracking, pickup and delivery confirmation, invoicing, job management, driver rating, and more.

It listed on the Australian Securities Exchange through a reverse takeover last year.

Similar companies: Zyllem, Sendle

How it compares to competitors: Yojee’s services are powered by artificial intelligence, machine learning, and blockchain technology. The startup combines a software platform that allows businesses to ship goods with a software-enabled network that helps logistics providers to collaborate, manage, and operate their fleets.

Traction

• Over 280 corporate customers and more than 1,500 unique customers, including One Sports Puma, Spotlight, Lion Parcel, and others
• 159 percent growth in the last two quarters in terms of its logistics network
• 53 percent growth on its software-as-a-service revenue
• Increased presence across Southeast Asia and Australia, including Cambodia, Indonesia, Vietnam, and Malaysia

Funding details

Amount raised: US$2.5 million
Funding stage: N/A
Lead investor: N/A
Other investors: N/A
Investment type: Share placement
Purpose: Fund sales and marketing plans and fuel long-term technology development for SmartAssign, an automated job assignment software for businesses, the startup’s big data analytics platform, and a collaboration tool called Control Tower, which allows companies to move jobs between them as part of a connected network.
Total disclosed funding to date: US$8 million

Converted from Australian dollars. US$1 = AU$1.27.

See: Startup veterans want to fix Southeast Asian logistics with AI and blockchain