TechTaka, a South Korean e-commerce fulfillment startup, has successfully raised $9.5 million in a Series B funding round from Altos Ventures. The company, founded in May 2020, offers third-party logistics services to e-commerce sellers, aiding them in managing supply chain operations, warehousing, order packing, and shipping. This recent investment will enable TechTaka to further develop its technology, expand its services, and grow its team.
Key Takeaway
TechTaka, with its recent $9.5 million funding, is poised to revolutionize e-commerce fulfillment services through advanced technology integration, strategic partnerships, and expansion into global markets.
Revolutionizing E-commerce Fulfillment
Founded by Soo Young Yang and Kyung Wook Lee, both with prior experience at major e-commerce companies, TechTaka aims to streamline logistics and optimize supply chain operations for online vendors. The startup’s fulfillment service, Argo, launched in March 2021, offers next-day delivery, a crucial factor in attracting and retaining customers in the competitive e-commerce landscape.
Strategic Partnerships and Expansion
TechTaka has strategically integrated with Naver’s SmartStore, a leading e-commerce platform in South Korea, and plans to expand its partnerships with marketplaces and sales channels in the U.S. and Southeast Asia. The company has also ventured into the U.S. market, assisting Korean vendors in selling products on Amazon, with plans to further integrate with global marketplaces like Amazon and Shopify.
Advanced Technology Integration
Utilizing artificial intelligence, TechTaka has incorporated AI technology into its system to analyze shipment patterns, predict stocks, orders, and sales, and optimize warehouse and transportation management. The company’s optimization algorithm has shown a 20% time-saving in the supply chain process. Additionally, TechTaka has partnered with LG CNS to introduce collaborative robotic services in its warehouses, aiming to optimize operations and efficiency.