- Limiting geographic reach for temperature-sensitive products reduces separation and watts.
- to increase its support offering and create a software suite with customer analysis
The completion of a US$ 3.8 million( RM17 million ) seed round led by Intudo Ventures, an Indonesian-focused venture capital firm, ASSA, one of Indonesia’s largest logistics groups, and Triputra Group, the largest agricultural conglomerate in Indonesia, with participation from MKA & amp, ITS, was announced today by Coldspace. & nbsp,
Coldspace was established in December 2022 and offers integrated end-to-end cold chain solutions to customers in Indonesia who are both B2B and business to business( B2C ). & nbsp,
Arnold Giovanni( CEO ), Ivan Liadi( Hand of Business Development & amp, Product ), andnbsp, David Loei, and Jan Sunaryanto, Head of Finance, are in charge of Coldspace. The team developed Coldspace to reduce fragmentation and restrict geographic reach for temperature-sensitive products through a seamless network of cold storage facilities and transportation — all powered by an automated technology stack — after realizing that Indonesia lacked integrated cold chain solutions.
As we develop the second end-to-end cold network service provider in Indonesia that caters to both B2B and C2C customers, we appreciate our investors’ confidence in Coldspace. This will enable businesses to grow quickly and obtain dexterity in their distribution coverage, according to Arnold.
We will speed up this process by utilizing the shipping habitat of our corporate investors to deliver best-in-class functional excellence and aggressive selling.” Building more than 15 transmission points within three months of introduction has demonstrated our ability to scale quickly.”
With this round of funding, Coldspace intends to increase the number of cold storage, reefer trucks, fulfillment, and geographic coverage it offers, as well as launch a range of management tools for customers to help manage and track products. These tools include the Warehouse Management System ( WMS ) and Transportation Management Systems( TMS ), which are offered to customers as free value-added services that enable them to perform analytics, provide training, or enhance service quality. & nbsp,
Indonesia has frequently lacked the climate-controlled equipment required to prevent deterioration, leading to spend and item loss, due to the rising demand for raw foods, pharmaceuticals, and other temperature-sensitive products. According to Patrick Yip, Founding Partner at Intudo Ventures, Coldspace is creating a seamless end-to-end cold network that ensures good product treatment while giving customers strong tech-enabled tools to monitor and manage products throughout the supply chain by focusing on the scattered and common area marked by inefficiencies and service gaps.
In order to provide constant cold string services from first to last hour to end customers and companies, Coldspace as a group collaborates with some ASSA Group subsidiaries, starting from ASS Logistik, Anteraja, and Titipaj. According to Prodjo Sunaryanto, CEO of ASSA, we are interested in investing in Coldspace to further integrate our cold chain options as well as the fact that, despite being a company, they are still able to post strong performance.
” While keeping in mind the current market requirements and disorders, we are always enthusiastic about exploring different programs.” The potential for cold string solutions is very tempting when you consider the economic and geographical landscape in Indonesia. So, we want to make sure that Coldspace’s business runs smoothly through this round of borrowing, according to Triputra Group CFO Erida Djuhandi.
With plans to expand across the nation, Coldspace is currently active in the Greater Jakarta Region( Jabodetabek ), Surabaya, Malang, Bali, and Medan. To make it easier to handle temperature-sensitive items as they enter the country, the organization runs cold storage facilities carefully close to Jakarta’s important port and airport. In contrast to its platform, which has 30, 000 lots of cold storage efficiency and 100 ganja trucks run by Coldspace partners as of April 2023, the company manages 3,000 tons.
This round is the second outside round of funding for Coldspace.