Amatil X, the venture capital arm of Coca Cola Amatil, one of the world’s five major Coca-Cola bottlers, has invested in Kargo Technologies, an Indonesian start-up for freight logistics. The investment is Amatil X’s first venture into the startup scene in Indonesia. Kargo Technologies will work with Coca-Cola Amatil Indonesia to optimize its trucking routes.
Amatil X is estimated to have injected USD 2 million in funding. Previously, Kargo Technologies received USD 7.6 million in a seed funding round led by Sequoia Capital India, with participation from Uber Co-founder and former CEO Travis Kalanick’s 10100 Fund.
Kargo Technologies is an online freight logistics marketplace that connects commercial shippers with truckers. Shipments can be tracked in real time on Kargo’s platform that can be accessed via its website and mobile app. This solutions aims to simplify logistics in Indonesia, which has a highly fragmented trucking industry, with 7 million trucks operating across 17,000 islands.
(Sources: e27; Dealstreet Asia)