Korean Startup COLOSSEUM Secures Series A Funding, Accelerates Global Logistics Expansion
The global integrated logistics partner, COLOSSEUM, has secured Series A funding. The amount remains undisclosed. Participants in this round include Nextrans, Woori Bank, Technology Guarantee Fund, A-stone Ventures, and CTK. COLOSSEUM announced plans to expedite the construction of a global logistics network connecting South Korea to the US and Asia through this investment.
Established in 2019, COLOSSEUM operates based on the integrated AI logistics solution COLO and a group of global logistics experts called FD. They connect domestic and international logistics center networks spanning 38 locations, middle and last-mile delivery networks, and automated logistics equipment. They offer comprehensive services, including e-commerce fulfillment, retail, B2B, urban-type MFCs, cross-border, and comprehensive consulting. This investment can be seen as a recognition of COLOSSEUM’s potential and competitiveness, given its annual tripling of revenue and volume growth since its inception.
To secure global market share and sustainable growth, COLOSSEUM has set a three-year action plan to expand its domestic and international logistics center network to over 100 locations. As part of this expansion, they plan to improve various logistics center conditions and work environments and innovate their connection with the delivery network. They aim to expand services to e-commerce fulfillment, food materials, franchise logistics, and cargo transportation.
To address the evolving logistics needs characterized by diverse product properties, fluctuating delivery options, and volumes, COLOSSEUM continues to push its COLO intelligence project. They rapidly adapt to market trends by applying it to their logistics center network on a core function and modular basis.
With K-products gaining global attention, direct purchase volumes are surging alongside reverse direct purchases. Riding this trend, COLOSSEUM is intensifying its global market entry in North America and Southeast Asia. They launched the global version of COLO last year and completed its second phase of enhancement this year. Recognizing the complexity and challenges of global logistics compared to domestic logistics, COLOSSEUM is actively infusing its expertise into processing and analyzing global logistics data. They’re focusing on integrating and enhancing OMS, WMS, TMS, and improving UX.
COLOSSEUM plans rapid global network expansion through the establishment of corporations in the US and Southeast Asia, aiming to enhance the quality of their cross-border and local logistics services. They anticipate significant growth in Asia, a region expected to see aggressive volume expansion, and plan to unveil an evolved global one-stop logistics service.
Reflecting the need for efficient and cost-effective handling of extreme non-standard logistics, they are testing automation robots and equipment systems, aiming for commercialization in the first half of next year.
Hong Sang-min, Nextrans CEO, who led COLOSSEUM’s Series A funding, said, “As the e-commerce market grows, fulfillment is evolving from an option to a necessity. We expect COLOSSEUM’s network-based logistics service to be effective not only domestically but also in markets like the US and Vietnam, where Nextlens is investing heavily.” He added that COLOSSEUM’s flexible system is fulfilling needs for human resource efficiency in logistics centers and optimal fulfillment services for shippers, leading to rapid growth.
Park Jin-su, CEO of COLOSSEUM, expressed his aspirations, saying, “Through this investment, we’ll accelerate the construction of our domestic and international logistics and delivery network and present a high-quality network-based logistics model unique to COLOSSEUM in the global market.” He added that they aim to be recognized globally for their growth potential, sustainability, technical service capability, and stability and will continue to work diligently with their excellent team, focusing on data and on-site operations.
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