Karzo, a logistics business with an emphasis on the Mekong area, has secured further funding through a subsequent pre-series a financing round headed by NP Consulting, Cocoon Capital, and Orbit Startups. The entire sum raised was kept a secret by the startup.
The new investment is being provided while it gets ready for its series A funding round, which the business had originally scheduled for 2021.
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It is a logistics startup that describes itself as “asset-light, mid-mile,” gained traction during the pandemic by providing truck drivers and third-party logistics companies with an online marketplace. Truckers can connect with vendors who require delivery services through the platform. After then, Karzo keeps a commission on each transaction.
Among its clientele are well-known FMCG and international companies like Chang Beer and Maersk Line. Alex Wichs, the founder and CEO of Karzo, stated that the company will be able to grow its market share in the Mekong area thanks to the additional cash. At the moment, it works in Thailand and Myanmar.
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The business is creating KarzApp, a smartphone app that gives truckers a digital platform to manage freight orders, in an effort to increase its market share. According to Karzo, the app’s partnerships with financial institutions like insurance companies and dealerships may open up new revenue sources for trucking companies.
The company’s asset-light approach is well-timed; according to Mordor Intelligence, Southeast Asia’s freight and logistics market is expected to reach US$475 billion by 2029.
About Karzo
A B2B tech platform, Karzo offers complete logistics and distribution throughout the Mekong area.
