Kargo Technologies, a venture-backed freight logistics marketplace, has raised its Series A funding of $31 million, led by Silicon Valley-based Tenaya Capital. Other investors that participated in the round include Sequoia Capital, Intudo Ventures, Coca-Cola Amatil, Agaeti Convergence Ventures, Alter Global, and Mirae Asset Venture Investment. The company was founded by Tiger Fang, Yodi Aditya in 2018.
The funds will be utilised to help companies in Indonesia fight COVID-19.
In a media statement, CEO Tiger Fang said,
“We’re grateful for our wonderful investors who continue to support us, even in a time of financial uncertainty. Kargo pledges to be the most reliable logistics partner to ensure no disruptions to the supply chain of essential items in Indonesia. Our entire company is donating a portion of our salaries to this cause and we invite local businesses and organisations to get in touch so we can work this problem together.”
Kargo Technologies is a freight logistics marketplace covering the entire Indonesian archipelago. The Company enables shippers, transporters, and truckers to connect, transact and track shipments in real time on a platform, which they can access via the website and mobile app.