Indonesia's Coldspace Bags $3.8m In Seed Round

The SEA 🌊

The cold chain industry has been vital to Indonesia, especially because of its tropical weather and scattered geography. Now the barrier of entry into the space is not exactly low, due to the high setup and operational costs but this startup is taking up the challenge.

I’m talking about Coldspace.

🤷‍♂️ Who is Coldspace?

• Founded in 2021 by Arnold Giovanni, Coldspace is an Indonesia-based cold chain company, striving to provide hassle-free logistics solutions which include storage and distribution of products

• It provides cold storage facilities and reefer trucks through its own inventory for B2B and B2C customers

• They also have a marketplace for cold chain partners to improve their utilisation

🤕 What pain point are they solving?

• There’s a lack of an existing cold chain network which is preventing businesses from expanding

• Cold chain processes are highly manual with low technology adoption (which means OPPORTUNITY)

• Lack of comprehensive offerings which causes inefficiency and hassle in logistics management

• High seasonality which causes fluctuations in available spaces

💰 Funding

• The company just raised USD 3.8 million in a seed funding round to expand its services and launch a warehouse and transportation management solution

• With the funds, they plan to expand their geographic coverage and improve the utilisation and pricing of their services

• Intudo Ventures has praised its efforts to build out a seamless end-to-end cold chain infrastructure to prevent wastage and product loss

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That’s a wrap for today. See you all tomorrow! 👋

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