Techtaka raises $9.5M for its e-commerce fulfillment service
Summary
Techtaka, a South Korean online shopping fulfillment startup that provides third-party logistics services for e-commerce sellers, has raised $9.5 million (12.6 billion KRW) in a Series B round of funding from a sole investor, Altos Ventures.The outfit helps e-commerce sellers manage the supply chain, from warehousing, order packing and shipping, so that Techtaka users can focus on product and marketing. The startup also provides a SaaS operating system to optimize the online vendors supply chain and logistics operations.Soo Young Yang (CEO), who had stints at Amazon and Coupang as a software engineer, and Kyung Wook Lee (CTO), who previously worked at Coupang, founded Techtaka in May 2020 and launched its fulfillment service called ARGO in March 2021.Yang told TechCrunch that he had firsthand experience at the e-commerce giants of how fast delivery services are significant to customers. The startup CFO Steve Kim told TechCrunch its performance notably increased in terms of revenues and customers after partnering with Naver. As soon as we complete the process for an official Amazon partner, we plan to expand this business in the U.S.The latest capital, which brings its total raised to $18 million (23.6 billion KRW), will enable Techtaka to advance its technology, scale its service for online merchants and hire staff.Techtaka has incorporated artificial intelligence into its system to analyze shipment patterns to enable users to predict stocks, orders and sales. Techtaka claims that its internal research shows the companys optimization algorithm saved time in the supply chain process by 20%, Yang said.On top of that, the startup has partnered with LG CNS, an IT solution arm of Korean electronics giant LG, to bring LGs collaborative robotic service, picking up parcels for workers, to the warehouses.
Funding
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