MANILA, 11 OCTOBER 2017 - Lalamove, the leading same-day delivery and logistics provider in Southeast Asia and China, with a strong presence in Manila, has recently completed its latest $100M Series C funding round.
The latest investment comes as Lalamove Philippines gains a strong foothold in the Manila market. Lalamove provides on-demand delivery services that are highly essential for small to medium enterprises in the food and beverage, apparel and electronics industry. It also answers the call of e-commerce businesses as it covers Metro and Mega Manila with over 30,000 users to date. As of September 2017, there has been an upward trend in deliveries and the challenge is now meeting this growing demand. Thousands of drivers took the challenge in becoming today’s forbearers of on-demand delivery services.
The round was led by ShunWei Capital, a venture capital firm that invests significantly in growth stage startups. Of the investment, Shunwei Capital Partner Cheng Tian says, “Lalamove is an important investment for us in the mobile logistics sector. We foresee strong growth in last-mile delivery and this has been reflected in Lalamove’s growth and performance. In only a couple years, Lalamove’s standardisation, speed of service, lean operations and execution strategies have all drastically improved efficiency, lending to their excellent reputation across Asia. Their resilience and continued efforts to innovate have allowed them to lead in the last mile delivery business. Shunwei Capital is very proud to be partnering with Lalamove to help lead the way in modernizing logistics by bringing the industry online.” Lalamove’s latest investment round includes participation from several previous investors including Xiang He Capital and MindWorks Ventures.
Lalamove leverages the power of the web, mobile app technology and the sharing economy to provide same-day delivery services for SMEs that require fast, on-demand delivery services. Lalamove offers the most comprehensive logistics and delivery coverage in Asia; in July 2017 the company reached a significant milestone of providing delivery in 100 cities. Lalamove services over 15 million users and is supported by over 2 million drivers while continuing to expand rapidly across China and Southeast Asia.
Shing Chow, Founder and CEO of Lalamove says, “After our Series B, we set out an ambitious goal to achieve leading delivery coverage across Asia and we’ve managed to exceed our expectations. We will continue to quickly expand into cities where we feel we can provide the simplest and fastest delivery service in the market.”
Aside from market expansion, this new funding will also be used to make investments into talent across all parts of the organization, to build new product features and to allow businesses more direct access to Lalamove’s large fleet of drivers. One example is Lalamove’s new API integration service that helps SMEs leverage Lalamove’s on-demand delivery technology through their own business services.
Lalamove Philippines Country Director, Albert Go, expresses how Lalamove is growing as e-commerce grows regionally. “This investment will definitely fuel the market here in the Philippines. It has only been a year and we are already seeing exponential growth. We are optimistic that we will disrupt the market and this investment serves as a symbol of trust of our investors as we take the challenge this 2017.”
Lalamove is an on-demand logistics company in Asia that matches drivers with customers and SME businesses to fulfil same day deliveries. Lalamove’s mission of making local deliveries faster and simpler is achieved through innovations including instant order matching, real-time GPS vehicle tracking, 24/7 service, and a driver rating system. Lalamove allows these businesses to quickly scale their deliveries and operations at an accelerated rate.
About Shunwei Capital
Shunwei Capital is venture capital firm based in China specializing in early to growth stage investments in founders and disruptive business models in mobile Internet, IoT, Fin-Tech, Ed-Tech, artificial intelligence and robotics. Shunwei’s investment portfolio includes Xiaomi, Ninebot (Segway), and YY, among others. Founded in 2011 by Lei Jun (founder of Xiaomi) and Tuck Lye KOH, Shunwei Capital currently manages over $2 billion (USD) across its funds.
About Xiang He Capital
Xiang He Capital is a venture capital fund focusing on early and growth stage investments in China. The fund focuses on AI, telecommunications, media, technology and disruption of traditional industries such as online education, logistics, fin-tech and online medical systems, enterprise services, B2B and internet.
About MindWorks Ventures
MindWorks Ventures is a Hong Kong based venture capital firm that invests into high-growth technology startups in the post-seed stage with a focus in the Southeast Asia and Greater China regions. Its founding partners David Chang and Joe Chan are seasoned investors who have built and backed global companies in the US and Asia. Their multi-stage venture funds invest in companies and assist the brightest founders to build technology for rapid adoption, scalability and disruption.
More info: http://www.mindworks.vc
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