Amatil X invests in Indonesia's Kargo Technologies

Coca-Cola Amatil Indonesia (CCAI) is operated by The Coca-Cola Company (TCCC) and Coca-Cola Amatil, the US beverage giant's Australia-listed bottler. Amatil X Indonesia is the Indonesian counterpart to a similar initiative in Australia. It invests in Series A rounds for Indonesia-based start-ups that can help improve the parent company's operations. 

Founded in 2018, Kargo is a logistics platform connecting shippers, transporters, and truckers. It offers truck booking services on a mobile-accessible app. The company previously received $7.6 million in a Series A round last year led by Sequoia Capital India. Other backers include 10100 Fund and two local private equity professionals.

Kargo estimates that $40 billion is spent on trucking services in Indonesia every year with seven million trucks operating across the archipelago. It believes the widespread use of a digital platform will improve efficiency. Amatil X’s investment will lead to Kargo’s solutions being adopted across two key land transportation routes for CCAI. 

“Kargo connects businesses and their shipping needs with trucking companies that have vehicles with cargo space available nearby. Importantly, Kargo can source loads the backhaul which means trucks are returning with fewer empty loads, allowing them to maximize revenue and better distribute costs,” said Tiger Fang, CEO of Kargo, according to a release. 

Other trucking marketplaces operating in the country include Waresix, which raised a $25.5 million Series A round earlier in the year, and Ritase, a similar logistics technology provider backed by Golden Gate Ventures. Meanwhile, Sicepat Express handles the logistics needs of online merchants, with capabilities including warehousing, couriers, and air and cargo delivery across Indonesia.

Amatil X, headquartered in Australia, has invested in TabSquare, a Singaporean digital ordering platform for restaurants, Australia-based payment platform Doshii, and Aider, a New Zealand start-up that offers an artificial intelligence-enabled digital assistant for small and medium-sized enterprises.

Towards the end of 2019, the corporate venture firm also launched an early-stage VC fund co-managed by Australian GP Artesian Venture Partners.

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• Topics
• Southeast Asia
• Early-stage
• Technology
• Indonesia
• Amatil X
• Logistics
• TMT