This article first appeared in Digital News Asia, on Feb 25, 2019.
TRESGO Sdn Bhd (TresGo), a Malaysian e-fulfilment provider has raised an undisclosed amount of funding from Cradle Fund Sdn Bhd and a traditional shipping, logistics and warehouse player.
TresGo will use the proceeds to further develop their cloud based copyright system which enables all operations to be viewed by merchants in real time, expand their warehouse to cater to 12000+ orders a day and on marketing.
The startup’s services include storage, inventory management, packing orders from both online and retail (offline), and deliveries.
“We have long believed in the inevitable need for the traditional warehouse management system to be digitised for the optimisation of fulfilment solution. TresGo’s technology, which addressed this exact need, is exactly the reason why we decided to invest in them,” said Cradle chief investment officer Juliana Jan.
“While TresGo has an attractive scalable business model with compelling market opportunity, the team’s expertise equipped with their strong execution capabilities is what enticed Cradle to invest in them.”
“Both Cradle and the freight forwarder are established leaders and giants in their industries respectively. We were thrilled when the deal went through and it was perfect timing as we were ready to have an investor on board after one year of inception and to also have them both at the same time.
“Although there were many other potential investors before, we knew that the synergies that they bring are invaluable. Cradle has its vast network of investors and entrepreneurs, and the freight forwarder with their ocean of knowledge and connection in logistics,” said TresGo co-founder Safiyya Azman.
Source from Digital News Asia