The investment in this company signals a commitment to new solutions for land freight transportation and logistics in the Colombian economy, an industry where the adoption of technology has immense potential improve efficiency, benefiting both freight generators and independent truck drivers, as well as transportation companies.
Land transportation is one of the most relevant and influential sectors for the Colombian economy, as it represents close to 80% of logistics in the country. However, it is an industry marked by inefficiencies and a bottleneck of intermediaries, in addition to myriad safety risks. This makes the operation of logistics centers difficult, affects the working conditions of drivers, increases costs ,and, in general, limits the economic development of the region. It is for this reason that it is increasingly necessary to adopt new technologies within this sector, generating solutions that optimize travel processes and guarantee the success of freight movement operations, while benefitting drivers.
It is within this sector where Teclogi, a Colombian LogTech, has been developing innovative solutions and services that automate and optimize operational processes. Their platform serves cargo generating companies that need to manage their cargo transportation suppliers, and transport companies that need to manage their cargo transportation fleets. The solution ensures better safety conditions, an improved efficiency and traceability in these operations. In addition, the company offers a marketplace that facilitates the contracting of freight transportation for companies, through a platform that connects supply and demand in an efficient and simple way.
Thanks to its work in transforming the logistics industry, making it not only safer, agile and efficient, but also fairer for independent drivers, Teclogi has now closed an investment round for more than US$ 4.6 million led by ALIVE Ventures.
Founded in 2020 by Humberto Coronado and Dairo Ortiz, this Colombian technology platform allows companies in any sector to connect with safe and reliable independent truckers quickly. In this way, the company reduces transportation costs by up to 40%, since it eliminates several intermediaries, as well as manual processes and security risks. At the same time, it provides access to real-time data on each of the transportation services, thanks to the traceability it offers from any device and from anywhere in the world; thus enabling clients to make better decisions regarding their supply chain.
The automation of operational processes and the use of technologies to optimize routes also make the work of independent drivers more efficient, productive and profitable, allowing them to increase their productivity rates by between 20% and 25% and to increase their income between 15% and 20%, while reducing their work hours due to the efficiencies generated, allowing drivers to substantially increase their quality of life.
The founders of this company Humberto Coronado (CEO) and Dairo Ortiz (CTO) built Teclogi as a solution to optimize and disintermediate a sector which for decades has suffered from inefficiency and negative environmental impacts, and unjust working conditions for the community of drivers.
“At Teclogi we manage to increase safety and service standards in the logistics sector, providing higher degrees of sustainability in each of the operations, through the use of cutting-edge technologies. Furthermore, we are motivated to improve the quality of life of drivers, by reducing work hours spent in transactional processes, while also increasing their income by allocating more freight and fewer empty trips,” highlights Humberto Coronado.
For his part, Dairo Ortiz, co-founder and CTO of the company, shares: “We founded Teclogi as a digital solution focused on cargo transportation, interconnecting the transactional and operational platforms of freight producers, transportation companies, seaports, industrial parks, and other logistics partners in Colombia. Additionally, through Data Analytics and Artificial Intelligence technologies, we use digitized data to generate efficiencies throughout the industry and to support the growth of the country's economy."
ALIVE Ventures, the impact fund which led the round, stands out for being one of the most relevant impact funds in Latin America, investing in companies that generate a positive social impact and that have profitable business models and require capital to grow.
The fund works closely with the companies it invests in to help scale their innovative solutions, addressing some of the most pressing challenges facing the region's most vulnerable communities. For this reason, the co-founder and managing partner of ALIVE, Santiago Álvarez, will join the Teclogi’s Board of Directors.
“Teclogi's innovative technological solutions are designed to improve the operational efficiency of the entire land transportation value chain and can drastically improve the working conditions and socioeconomic situation of drivers in the region," says Álvarez. With this new investment, the company will seek to improve its current product offering and develop new technological innovations to further optimize cargo management processes for companies, while improving the working conditions of independent drivers."