Coldspace, a Jakarta, Indonesia-based integrated cold chain solutions provider, raised US$3.8M in Seed funding.
The round was led by Intudo Ventures, ASSA, and Triputra Group, with participation from MKA & ITS.
The company intends to use the funds to expand its service capacity, including greater capacity for cold storage, reefer trucks, fulfillment, and geographic coverage; launch a suite of management solutions for customers to help manage and track products, including its Warehouse Management System (WMS) and Transportation Management System (TMS) and provided to customers as a free value-add service to perform analytics, offer training and improve service quality.
Led by led by Arnold Giovanni (CEO), Ivan Liadi (Head of Business Development & Product), David Loei (Head of Sales), and Jan Sunaryanto (Head of Finance), Coldspace is an integrated end-to-end cold chain solutions provider in Indonesia for B2B and B2C customers. The company offers cold storage facilities and reefer trucks through its own inventory as well as a third-party aggregated marketplace of cold chain partners empowered by its tech stack. Where cold chain services are currently unavailable, Coldspace is building out cold chain infrastructure to fill in gaps to ensure end-to-end climate control of products through its own warehousing and fleet as a critical link in Indonesia’s cold chain. It also provides cold fulfillment solutions designed to enable quick commerce services, through a hub-and-spoke model that ensures rapid delivery of temperature-sensitive products.
Coldspace is currently operating in the Greater Jakarta Region (Jabodetabek), Surabaya, Malang, Bali, and Medan, with plans to expand throughout the country. The company operates cold storage facilities strategically located near Jakarta’s main port and airport to facilitate the handling of temperature-sensitive items as they enter the country. As of April 2023, Coldspace manages 3,000 tons of cold storage capacity and 20 reefer trucks, while its marketplace features 30,000 tons of cold storage capacity and 100 reefer trucks operated by Coldspace partners.
Coldspace works with importers, exporters, distributors, food & beverage producers, logistics companies, and other businesses. Within the food & beverage category, the company offers services for fisheries, meat & poultry producers, pre-packaged meals and beverages, dairy, fruit and vegetable vendors, as well as pharmaceutical products.
FinSMEs
03/05/2023