- Kargo Technologies , an Indonesia-based logistics startup, has raised $7.6 million in its seed round of funding, led by Sequoia Capital India.
- Kargo is a digital freight marketplace that plans to connect Indonesian shippers with carriers, reducing the friction and opacity that exists within that country’s freight market.
- With a population of over 260 million and a GDP growth rate of 5.1 percent in 2018, Indonesia is an emerging powerhouse in southeast Asia.
- As is the case in several countries around the world, the growth of e-commerce has created a never-before strain in the Indonesian logistics sector.
Indonesian digital freight startup Kargo Technologies raises $7.6 million in seed funding
20 March 2019 5:00 PM GMT