Telkom Indonesia’s corporate venture capital firm, MDI Ventures is set to invest $2 million in US based logistics technology firm Roambee Corporation. With the latest investment Roambee aims to expand its supply chain asset- tracking technology to Southeast Asia.
The recent investment totals Roambee’s funding to nearly $10 million till date following a $3.1 million investment from German telecommunication company Deutsche Telekom in 2017.
Roambee aims to enter the Indonesian and Southeast Asia’s logistics market. Roambee also aims to serve Telkom Indonesia which is the largest telecommunication service company in Indonesia as its first customer and its latest investor.
Roambee’s ability to track, trace, and monitor in real-time through a broad array of sensors, while simultaneously doing analytics and predictive reporting was the reason MDI Ventures, a subsidiary of Telkom Indonesia, chose as a new investment.
According to Roambee CEO Sanjay Sharma:
“The opportunity in Indonesia is huge. It’s one of the largest in the world, with almost 24 percent of the country’s GDP spent on logistics. With MDI’s investment, Roambee gains a significant advantage in quickly assuming a leadership position in driving the enterprise digital transformation of Indonesia across supply chain shipment and asset monitoring visibility.”
Using the internet of things (IoT), Roambee helps companies track assets through the supply chain and Roambee software is also capable to detect whether a shipment is coming by land, air or sea.
MDI Ventures CEO Nicko Widjaja, said in a statement:
“Roambee’s end-to-end solution is best suited to meet the challenges of Indonesia’s varied supply chain ecosystem, which we will see realized when implemented as part of Telkom Indonesia’s enterprise services later this year.”
Founded in 2013, Roambee Corporation develops a cloud-based platform that provides real-time, pay-as-you-go, and shipment monitoring service for enterprise customers worldwide. Headquartered in Santa Clara, California, US, Roambee also offers a smartphone application.
About MDI Venture
A subsidiary to Telkom Indonesia, MDI Venture or Metra Digital Innovation Ventures is a corporate venture capital firm. Serving customers globally, MDI Venture invests in early and mid-stage companies.