Portfolio Spotlight: SafeTruck

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Startup Spotlights

Startup: SafeTruck

Vertical: Logistics

Market: Malaysia

SDG: 11

Female Founded: Yes

Fundraising: currently fundraising $1.6 Million for its pre A round which is focused on our R&D as well as sales and business development.

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Safe Truck is an internet of things (IoT) fleet management system that tracks and collects telematics data, analyzes with an AIpowered application, and helps transporters get lower rates in endtoend fleet procurement.

What problem does SafeTruck solve?

There’s are a lot of issues happening in the transport industry. So what's happening right now in Southeast Asia especially is a few tap and a few wastage; There are a lot of commercial vehicles in Southeast Asia, but we can say most of them are actually losing control and they don't have the technology to support them. Most transport operators spend more than 60% for their operating expenditure, and what we are helping is the fleet owners to finding ways of availabilities of fleet operations, and then solve for cost optimizations purpose.  

What products does SafeTruck offer? 

SafeTruck offers IoTbased Fleet Management solutions and we are actually by substitution basis. We have a variety [of products] that serve across different verticals and industries. For example, our unique selling point is on monitoring with predictive AI maintenance as well usagebased insurance basis that we collect and integrate with different IoT GPS controllers, modern IoT Technologies, and GPS tracker manufacturers. 

What countries do you currently operate in? What is your market reach?

SafeTruck has already been here over the past three years, tracking over 15,000 vehicles in Malaysia and Indonesia. We are going to reach out to Vietnam and Thailand soon. 

What is the current market for SafeTruck and the market potential?

As we can see, Logistics is the backbone of economies and Asia Pacific itself is the second largest region in commercial vehicles, having half of the trillionth commercial vehicle market, and what we're looking at is a 21 Billion potential ARR by 2023 which is looking at Vietnam, Indonesia and Malaysia itself. So we are focused more on to our first market, Malaysia, to have our market penetrations deep into this market while having more coverage in Indonesia next stage.

What is SafeTruck’s revenue/business model? 

SafeTruck is working on SaaS revenue models, which means we are a Fleet Management systems that provides monthly and annual subscription, depending on what our customers is subscribing across the verticals. So for example, long haul cargo trucks would actually use the few management systems depending on the modules, which we turn on and off depending on their business needs. So beyond that, we are just tracking. So what we have done on SafeTruck is that we are also providing a Marketplace for our customers to get down on operating cost as well as through the entire insurance and telematics in the supplies. 

Is SafeTruck currently fundraising, how much?

SafeTruck is currently fundraising for its pre A round. We are going to start in mid-November. We are raising $1.6 Million which is focused on our R&D as well as sales and business development. 

Where can our audience learn more about SafeTruck?

If you want to learn more about SafeTruck, you can visit our website, http://safetruck.co/, or even our Facebook page, https://facebook.com/mysafetruck/.

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