Techtaka raises $9.5M for its e-commerce fulfillment service
Reading Time: 2 minutesTechtaka, 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.
The outfit will continue to expand its partnerships with marketplaces and sales channels, not just in South Korea but also in the U.S. and Southeast Asia. Techtaka, which has a warehouse in Seattle, has started helping Korean vendors sell their products on Amazon, Kim said, adding that it plans to integrate with global marketplaces like Amazon and Shopify.
‘We tested our service in the U.S. by introducing Korean e-commerce sellers to Amazon, starting in May 2023,’ Kim said. ‘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. Argo’s AI technology also recommends packaging and optimized routes for warehouses (warehouse management system) and deliveries (transportation management system). It detects operation mistakes via an AI-powered camera. Techtaka claims that its internal research shows the company’s optimization algorithm saved time in the supply chain process by 20%, Yang said.
Earlier this month, the startup set up a warehouse representing 17,000 square meters of storage space in South Korea. It has 76 employees as of today. Its previous backers include Naver D2SF, Kakao Ventures and Lotte Ventures.
Ref: techcrunch
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