Coconut Silo Co., Ltd. (CEO Seungyong Kim) attended ‘SWITCH 2022 (The Singapore Week of Innovation and Technology 2022)’, the global startup exhibition held in Singapore between October 25th (Tues) and 28th (Fri).
‘Coconut Silo’ an AI deep tech startup, is a spinoff company from Hyundai Motor Group that innovatively solves numerous issues in the logistics and trucking industry and market.
They have been awarded the Minister’s award from the Ministry of SMEs and Startups, the Ministry of Science and ICT, and the Ministry of Trade, Industry, and Energy in Korea. They also won awards like the bronze award in the ‘Edison Awards’ and the gold award in the ‘Geneva International Exhibition of Inventions’, having their technical capabilities and business value recognized. They have also had the competitiveness of their design recognized at 2 of three major design competitions, winning consecutive awards at the ‘iF Design Award’ and ‘Red Dot Design Award.’
They are spurring on ESG management, receiving ‘green tech’ and ‘B Corp’ certifications as well as being selected as ‘Best For The World’ at ‘B Lab 2022’
They introduced ‘COCOTRUCK’ – their AI digital logistics platform – in the exhibition. Instead of calling or mailing to request cargo transportation, shippers can use the app for shippers to easily input transportation information for convenient cargo processing.
Connecting All Players in the Logistics Market
Transporters can visualize the cargo transportation process using the SaaS for transporters and replace inefficient working methods with an easy and systematic management.
Vehicle owners can manage their transportation history, allocate vehicles, and receive cargo through the app for vehicle owners. With functions such as e-signing and travel route calculation, it is possible to transport more cargo.
A spokesman for Coconut Silo said, “COCOTRUCK is a platform that connects all the players in the logistics market and makes it possible for anyone to quickly and easily request cargo transportation.” He continued, “We improve the quality of logistics through independent technical capabilities, with things like big data-based automatic price quoting, travel route optimization algorithms, and real-time location-based, smart mixed shipping system.”
Having its 7th iteration this year, ‘SWITCH 2022’ is a global startup exhibition hosted by Enterprise Singapore, a public institution under the Singapore Ministry of Trade and Industry. Two organizations in KISED and Singapore’s KSC Center (KISED 10, KSC Center 10) selected 20 Korean startups attending ‘SWITCH 2022’. Between October 25th and 28th, the attending startups will be in the main event, where they will partake in programs like operating the K-STARTUP demo booth, K-STARTUP demo day, investor meetings, networking events, and pitching contests.
