Funding Roundup: TransTRACK, Warehow and Others Announce Successful Funding
It has been a great couple of weeks for startups in the e-commerce, logistics, and supply chain space. In this week’s Ecosystem Funding Roundup, we are thrilled to feature five of their notable achievements:
TransTRACK
TransTRACK is a business that automates fleet operations using supply chain integrator and fleet operation optimizer technologies. It has announced the completion of a $12 million, or Rp 185 billion, Series A funding round. The round continues the pre-series A funding led by Ortus Star, which was recorded in June 2023 for $2,1 million (more than IDR 31 billion). With the extra funding, TransTRACK plans to quicken its growth across Southeast Asia, focusing on strengthening its position in the Indonesia, Singapore, and Malaysian markets. It will next begin investigating the markets in Taiwan and Australia.
Year Founded: 2019
Founder(s): Anggia Meisesari
Location: Jakarta, Indonesia
Latest Funding: US$12M Series A
Lead Investor(s): Eurazeo and Cocoon Capital
Warehow
A Series A funding of £2.1 million was secured by Warehow, an e-commerce fulfillment company in Worksop, UK, that services fashion and homeware merchants. With backing from current investor MENA Moonshots, the Midlands Engine Investment Fund II led the round through its designated fund manager, Mercia Ventures. Founded in 2021 by Laurence Guy, Al Gerrie, and Pete Harris, Warehow allows retailers to sell on several online marketplaces with a single fulfillment service, including eBay, Very, Next, and John Lewis. The business plans to increase operations and development activities with the help of the money.
Year Founded: 2021
Founder(s): Laurence Guy, Al Gerrie, and Pete Harris
Location: Worksop, United Kingdom
Latest Funding: £2.1M Series A
Lead Investor(s): Midlands Engine Investment Fund II
Powder Beauty
Powder Beauty, an online platform offering mindful beauty and wellness items in Ras al Khaimah, United Arab Emirates, received unknown pre-series A funding. With this additional funding, Powder Beauty will be able to expand its operations in Saudi Arabia and satisfy the growing demand in the $8.7 billion market for clean beauty, which is expected to grow to $39 billion by 2033.
Year Founded: 2018
Founder(s): Ayat Toufeeq, Amina Grimen, and Marriam Mossall
Location: Dubai, United Arab Emirates
Latest Funding: Undisclosed pre-Series A
Lead Investor(s): Sophia Collective and NKEHL
Jigcar
Jigcar has raised £750,000 in a pre-seed funding round. Founded by three former Cazoo members, the startup intends to transform multi-site car dealer groups' logistical operations by maximizing stock turnover, lowering expenses, and increasing customer experience. Its platform also uses AI to manage and improve logistics across all sites, including internal drivers, trucks, and third-party logistics suppliers. Concept Ventures led the funding round, which included industry leaders from Motorpoint, Hendry Group, Carwow, Impel, and Cox Automotive.
Year Founded: 2024
Founder(s): Elliott Perks
Location: London, United Kingdom
Latest Funding: £750K Pre-seed
Lead Investor(s): Concept Ventures
Chpter
Kenyan e-commerce startup Chpter reported raising $1.2 million (Ksh.155 million) in its pre-seed round. Chpter was formed in 2022 by Mesongo Sibuti (CTO), Kuria Kevin (CPO), Mark Kiarie (COO), and Tesh Mbaabu (CEO). The software technology start-up provides merchants with an AI-powered commerce platform that automates conversations, marketing, and payments, allowing them to sell more on social networks like WhatsApp and Instagram. With the fresh funds, Chpter hopes to grow into at least five more African markets in the next months, including Nigeria, Ghana, Egypt, and Morocco.
Year Founded: 2022
Founder(s): Tesh Mbaabu, Mesongo Sibuti, Kuria Kevin, and Mark Kiarie
Location: Kenya
Latest Funding: US$1.2M Pre-seed
Lead Investor(s): Pani
