Willbox, a Japan-based startup operating cloud computing-based open international logistics platform Giho in the Japanese market, will establish an operational branch in Taiwan in 2023, according to company founder and CEO Motonari Kami.
With its well-developed manufacturing industries and long-term stable economic and trade relations with Japan, Taiwan is the best choice for Willbox to tap overseas markets, Kami said.
Willbox will capitalize on Giho's core technology to tap the Taiwan market and is in talks for cooperation with over 70 logistics services providers in four commercial harbors in Taiwan.
The Giho cloud-based platform allows logistics services providers to save the time in preparing quotations and seeking new clients, said Kami.
Currently in Japan, Giho has more than 160 logistics service providers as partners and cooperates with shipping companies and agents on 243 shipping lines, with over 80% of registered users being listed Japan-based manufacturers.
Founded in November 2019, Willbox recently finished Series A funding of JPY700 million (US$4.72 million), with SMBC Venture Capital, Mitsbishi UFJ Capital, Marubeni Ventures, ANOBAKA adding investment as well as Golden Asia Fund III, Mizuho Capital and US-based Salesforce Ventures becoming new investors.
Golden Asia Fund III was jointly established by Mitsbishi UFJ Capital and Industrial Technology Investment (ITIC), which is wholly owned by Taiwan government-sponsored Industrial Technology Research Institute. ITIC's motivation of investing in Willbox is mainly the expectation that Willbox' application of IT to logistics operation can improve efficiency in global cargo shipment, company president Michael Chu said.