Our solution, 'Cocotruck' is a one stop total logistics platform.
Cargo owners can move their cargo even if they don't own trucks. And logistics companies can get more orders by 37%, compared to before. Truck drivers can move more orders based on a smart consolidation system and the matchback algorithm. Both cargo owners and logistics companies can manage their resources by realtime, within a glance. Differ from our competitors, logistics companies are key players in our platform. Meanwhile, competitors think that logistics companies are harmful since they could affect their profits. The gap between our profits will be filled in 3rd party service integration. Innovative business model, 3rd party service integration is a kind of advertisement channel for 3rd party service providers, such as insurance, fueling and maintenance companies. Big data analysis enables us to provide targeted 3rd party programs and by using it, users were able to make 25% more profits.
Coconut Silo has started as Hyundai Motor Group's in-house startup since April 2018 and successfully spun off in June 2020.
We're currently working with Mercedes-Benz based on the Startup Autobahn program, we became a successful case in open innovation point of view.
As a Korean startup, we found out that Japan is full of opportunities and strength in geological characteristics.
Coconut Silo has started as Hyundai Motor Group's in-house startup since April 2018, spin off'd in June 2020. We have excellence in both logistics and commercial vehicle fields. We are doing our business in ASEAN countries like Vietnam, Cambodia, Laos and Thailand. We are looking forward to entering Japanese logistics market, which is a hub for Northeast Asia. Furthermore, we know that there are a lot of connections from Japan to Thailand.
Now, we're doing our business in Vietnam. We will gradually expand our business area to various countries, including Japan. We have strength in analyzing various markets, we've found out that Japan is full of opportunities. Furthermore, we're looking forward to becoming a successful case for Korean startup to enter Japan.