A startup founded by three young Cambodian entrepreneurs has received financial backing from an angel investor. Jalat Logistics says IG International Group (IGG) “decided to support one of the first Angkor500 graduates by fully funding their pre-seeding ask, at significant six digits valuation.” It wouldn’t disclose the exact figure but said it was “far above” the lower range of $100,000.
Jalat Logistics claims to provide the most affordable half-day delivery service in Phnom Penh and an all-in-one logistical portal for parcel senders and recipients. It uses Artificial Intelligence to connect parcel centres, drivers and customers. Jalat says its technology allows drivers to carry twice as many parcels over a shorter distance at a faster pace. The company said in July it had seen 63 percent average monthly growth in the number of deliveries while profits had more than doubled since it started business this year. It plans to work with IGG to further develop its software, hardware and internet of things.
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