Indonesia's Kargo secures $7M bridge round for EV expansion

What's the deal? Indonesian freight logistics startup Kargo Technologies has raised up to $7 million in debt financing to fund the next phase of its electric vehicle expansion. The bridge round was led by existing investor AC VenturesDealroom has a profile for this one. Try Dealroom → and brought in Cathay VentureDealroom has a profile for this one. Try Dealroom →, the venture arm of Cathay Financial Holding, as a new backer.

Why now? Kargo has been electrifying its freight fleet and is doubling down on that push. The new capital is earmarked to advance its electric vehicle rollout, giving the company runway to scale EV operations without waiting for a larger equity round.

The signal: Debt is increasingly the tool of choice for capital-heavy logistics plays looking to expand fleets while preserving equity. Kargo's raise reflects steady momentum for commercial EV adoption across Indonesia's transport sector.

Read more: DealStreetAsia