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Tokopedia announced its Series G funding round has raised a $1.1 billion led by Alibaba and SoftBank in 2018. (Image credit: Tokopedia)
Indonesia e-commerce Tokopedia utilizes AI technology to grow business
Indonesia’s biggest digital marketplace platform Tokopedia uses the latest technology, Artificial Intelligence (AI) and invests in two logistics firms to advance delivery and reduce shipping costs in the country by predicting customers buying behavior.Currently, the e-commerce company examines its piles of customer data to forecast customer behavior, following tactics and methods from the U.S and Chinese’s tech giant companies.
The AI will provide data analytics on consumer demand in regions or cities to Tokopedia vendors within “near real-time”, said the CEO and Co-Founder of Tokopedia Wiliam Tanuwijaya. Regarding a fee, Tokopedia will assist to keep vendors’ goods before purchasing in affiliate warehouses in all over Indonesia.
With these investments, Tokopedia is expected can increase the quota of one-day deliveries which is from the current 65 percent to 95 percent. Tanuwijaya also hopes they can reduce costs for sellers in Indonesia where costs of logistics can be excessively high.
As one of the Unicorn companies in Indonesia, Tokopedia successfully attracts many giant companies to participate in the startup’s funding round. Previously in 2018, Tokopedia announced its Series G funding round has raised a $1.1 billion led by the Chinese e-commerce platform Alibaba and Japan-headquartered tech firm SoftBank.
Established in 2019, Tokopedia commits to empower online and offline business by investing and advancing its services.
Source: https://www.dealstreetasia.com/stories/tokopedia-logistics-ai-146884/
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