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YOJEE LIMITED (YOJ) - Breaking Supply Chain Monopolies: The Yojee Story

• Andrew Musgrave

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The global logistics industry is long overdue for a technological revolution. With most systems still running on software developed 25-30 years ago, freight forwarders and customs brokers have been starved of innovation and choice. That's where Yojee Limited steps in.

Mark Connell, CEO of Yojee Limited, reveals how his company is disrupting traditional logistics models with their groundbreaking MOSAIC platform. Unlike competitors who simply build "better mousetraps," Yojee approaches longstanding industry problems from entirely fresh angles. Their single, seamless global platform unites supply chain participants in a community-driven ecosystem that simplifies cargo management while challenging entrenched incumbents.

The market response has been extraordinary. Following MOSAIC's unveiling at Australia's largest freight forwarding conference, Yojee saw their share price jump as industry insiders rushed to invest. A recent heavily oversubscribed capital raise will accelerate R&D at their Sydney headquarters and support expansion of their Transport Carrier Management System (TCMS) across Asia Pacific.

Perhaps most impressive is Yojee's strategic shortcutting of barriers that have kept others from challenging industry monopolies. Through their SmartYojee joint venture, they've secured critical customs technology—typically taking years to develop—reducing both time-to-market and costs by 2-5 years. Meanwhile, enterprise contracts with major players like APP Indonesia and Röhlig Logistics Singapore are providing immediate revenue streams.

What's next? Their beta program remains on track for completion this quarter, with revenue-generating contracts expected in early 2026. From there, expansion will continue across Australia, New Zealand, Southeast Asia and eventually into Africa and Latin America. Want to witness a logistics revolution in action? Yojee is definitely one to watch.

Andrew Musgrave Host

Welcome again to ASX Briefs, where we spotlight innovative ASX listed companies shaping the future. And today we're joined by Mark Connell, the CEO of Yojee Limited, a logistics technology company revolutionizing freight operations through digital innovation. In this episode, Mark takes us inside Yojee's mission to transform freight forwarding and supply chain management. Mark, it's great to have you with us and welcome to the ASX Briefs podcast. 

Mark Connell Guest

Yeah, it's great to be here. Thanks, Andrew. 

Andrew Musgrave Host

Now, Mark, just to kick things off. You may have some listeners that may be unfamiliar with Yojee, so can you provide a brief overview of the company? 

Mark Connell Guest

Yeah, so at. Yojee, we pride ourselves on being the creators of world-class logistics technology. Our technology sort of empowers freight forwarders, providers of third-party logistics and shippers with a single, seamless, global platform for managing and executing cargo movements. So, our products are around, uniting supply chain participants into sort of a community-driven ecosystem, and our goal is to have it to simplify execution while disrupting traditional logistics models at scale. 

Andrew Musgrave Host

Okay, now looking at the MOSAIC platform. You publicly unveiled it at the IFCBAA conference in May. So, what was the industry feedback and why do you see MOSAIC as a market disruptor for freight forwarders and customs brokers? 

Mark Connell Guest

Yeah, that's a great question. So IFCBAA, which is the largest freight forwarding and customs brokerage conference in Australia, we felt was the right place to launch our platform. Traditionally in this space there's only been one or two dominant incumbents, so the freight forwarders and brokers have been sort of starved for choice for a very long time, especially in Australia and New Zealand, and we've actually just been to New Zealand's equivalent of IFCBAA, which is called CABAF, last month and we were welcomed with open arms. We were very overwhelmed by the response from the participants at the conference. Our stand was well attended, and I think there’s some real genuine interest in finding a provider of this type of software to challenge the incumbents. We feel the timing is right, the economic climate is right and the industry is looking for something different, something new.

A lot of the technology that's out there in our space is 25 to 30 years old, so it was written at the turn of the millennia actually. So having a fresh approach and looking at it quite differently is something that's exciting everyone right. So, at Yojee, our MOSAIC product is not just about building a better mousetrap. It's about looking at the problems in a very different and unique way and solving it, and that got everyone very excited. We saw a bump in our share price because a lot of people from industry were buying our stock, and we obviously got a lot of interest in our Be Part of Something campaign. 

Andrew Musgrave Host

 

Okay, and you've recently closed a heavily oversubscribed capital raise. So how will these funds accelerate MOSAIC's commercialization and your Asia Pacific growth plans? 

Mark Connell Guest

Predominantly, most of that funds will be in our first phase of our R&D. So, as we discussed before we started recording Andrew, we've developed our Sydney office. So, we're hiring aggressively in Sydney and Sydney engineers are not cheap. So, a lot of that, that capital is starting up our Sydney R&D or expanding our Sydney R&D arm. We're also using some of that money to expand our TCMS products. As you would see, we've signed Röhlig recently in Asia Pacific contracts. So, it's about creating the support to make sure that those implementations are successful. But it is fair to say, predominantly most of those funds is all about getting MOSAIC off the ground and making sure that when we go live and we launch, the product is well supported, as we believe that's one of our core pillars that we're competing the incumbents on is great support. 

Andrew Musgrave Host

Now the SmartYojee JV achieved technical verification for its customs technology the first connector for MOSAIC. So how significant is this milestone for your ecosystem strategy? 

Mark Connell Guest

Yeah, it's incredibly significant. 

I was very proud of that. So, one of the questions I get asked a lot is how come no one else has taken on the incumbents, how come? It's a very monopolistic market and the short answer is, Andrew, is that it's very difficult to build the customs compliance piece of international freight forwarding software. It takes years to get that right and it takes years to get that right in every single country. We've also seen that our incumbents are very good at acquiring customs providers. 

So, I needed to find a way to shortcut that path to get MOSAIC Commercial more so this year and the start of next, rather than waiting two to three years to build out that piece. So, creating a JV that locks in that customs piece for both Australia and New Zealand has done two things it's shortcut my time to market by two to five years and it's also shortcut my cost by two to five million AUD. So, and by locking it up in a JV means that no one can go and acquire that technology to slow us down. So, it's pretty significant to the strategy. 

Andrew Musgrave Host

Now you've advanced major TCMS deployments, including APP, Indonesia's largest mill, and are working with global leaders like Röhlig Logistics Singapore. So how are these enterprise contracts shaping Yojee's revenue model? 

Mark Connell Guest

For now. That's the whole point of doing that. Shane and myself have always said that TCMS is an important part of our overall Yojee strategy and right now it offers us news flow, which the ASX likes, and it offers us immediate revenue while we're building out our commercial market for our other products, MOSAIC. But for the next two years our growth will be predominantly in the MOSAIC platform and TCMS will definitely be the supporting actor. But over time, as MOSAIC spreads through Southeast Asia especially, we expect an uplift in the TCMS product because they complement each other in supporting the supply chain movement from first mile all the way through the air and ocean movement into the last mile. So, yeah, it's going to play its role, but certainly a lot of the excitement is around the MOSAIC platform and the potential revenue that will provide Yojee. 

Andrew Musgrave Host

Okay, and you've highlighted deeper engagement in Asia, particularly with mid-size logistics providers. So how big is the opportunity in these markets for TCMS adoption? 

Mark Connell Guest

Well, we think it's substantial and I can back that statement up by there's not a lot of competition. A lot of the major providers in our space stick to Europe and stick to North America. We see very little competition in terms of technology offerings in Southeast Asia and the main reason is because adoption is one of the most difficult things to get right. A lot of what we do in Southeast Asia is around carrier onboarding and customer onboarding and getting these markets to use technology. A lot of them are very manual, they're still very much paper based, they use a lot of WhatsApp, they use a lot of texting, and they use a lot of spreadsheets. So, digitising Southeast Asia is a big challenge because it's not very digitised, which means that there is a huge opportunity and a huge market. So, we're very excited about that and through our APP rollout we've got very good at bringing on, let's say, less sophisticated transport companies onto platforms and digitising those supply chains across countries like Indonesia. 

So, we feel we can roll that out to other parts of Southeast Asia.
 
 Andrew Musgrave Host

Okay, and looking at your financials, you closed out FY25 with $3.6 million in cash and no debt. So how are you balancing investment in growth and maintaining a strong balance sheet? 

Mark Connell Guest

Yeah, that's another great question. I spend a lot of time carefully managing costs. I think a lot of startups, especially those who raise and raise continuously raise and raise big tend to can get in that trap of overspending and letting costs get away from them. And certainly, Yojee anyone who's familiar with Yojee sort of circa 2016 to 2020 would be very familiar that we'd made those same mistakes as well. So, we've you know, I treat the cash like it's my own money and we're very conscious of how we spend, and we make sure that we use the word intentional at Yojee. So, we make sure that everything or every dollar we spend is very intentional. 

We've, since the raise, our cash position has significantly increased from that $3 million, and so it's just a matter of making sure that we spend it in the right parts of the business that's going to give us an ROI in the next two years. So, on our TCMS product, we've scaled back a lot of our overspending to make sure that our spending represents the revenue that we're receiving and, of course, making sure that everything we spend on the MOSAIC product is going to move us through those gates that I've talked to the share market about, which is making sure that we can successfully complete our beta program, which will start next month, making sure that we can bring customers on that are revenue generating in the first half of next year. So, yeah, it's making sure you're just fiscally responsible with the money that you've got, no matter how much you've got. 

Andrew Musgrave Host

Now just to finish up, as you move from validation into commercial scaling, what are your top priorities for the next 12 to 18 months, and what should investors keep an eye out for? 

Mark Connell Guest 

Yeah, it's the gates that we've always released to the market. So, it's about completing our beta program over the next three months. And I'm really happy to say and probably you're the first to hear is that we're still on track for that. We don't expect there to be any delays. I think when it comes to delivering software, people always expect delays, but we're still on track for the last quarter of this year. So that's the first gate and you can watch this space around announcements about that. 

And then it's bringing on revenue generating contracts in the first half of next year right in our export air sort of client base and then rolling it out to air and ocean imports and exports at the back end of next year, and that's both sides of the Tasman as well. And then, yeah, 18 months to two years, it's really rounding out the ANZ market and then moving offshore to Africa, Latin America and growing into Southeast Asia with our MOSAIC platform. On our TCMS side, it'll be growing some of these enterprise contracts across Southeast Asia. So far, I'm really, really pleased with the progress and what's really important is that we're hitting all the gates that we said we were hitting. So, you know, I'm a big believer, Andrew, of do what you say you're going to do. 

Andrew Musgrave Host

Okay, Mark. Well, it's been great to chat today, so thanks for your time and providing an update on the company, and we look forward to further updates from Yojee in the upcoming months. 

Mark Connell Guest

Really appreciate your time, Andrew, and the opportunity. 

Andrew Musgrave Host

That concludes this episode of ASX Briefs. Don't forget to subscribe and we look forward to catching you on our next episode.