SINGAPORE, 11 OCTOBER 2017 - Lalamove, the leading same-day delivery and logistics provider in Southeast Asia and China, with a strong presence in Singapore, has recently completed its latest $100M USD Series C funding round.
The latest investment comes as Lalamove Singapore is experiencing increasing demand for its on-demand services from the corporate sector, including restaurant delivery as well as domestic market. The Lalamove app has been downloaded by tens of thousans of users in Singapore alone with over 15 million registered users across the platform's service area. Lalamove Singapore is seeing an upward trend and breaking daily records in customers using its fleet ranging from motorbikes, cars, vans and lorries.
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 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, servicing over 15 million users with its operations supported by over 2 million drivers. Lalamove continues to expand rapidly across China and Southeast Asia.
Lalamove's latest investment round includes participation from several previous investors including Xiang He Capital and MindWorks Ventures. MindWorks Ventures Partner David Chang says, "our confidence in Lalamove and its team is reflected in our participation of five consecutive funding rounds. This new round of financing will further widen Lalamove's dominance as the regional leader in the on-demand logistics space."
Shing Chow, Founder and CEO of Lalamove says, "Delivery of information takes seconds, but delivering physical goods is still relatively slow. We want to change that. We want delivery to be measured in minutes, not days. Our average order-to-delivery time is very quick at 46 minutes, but we want to achieve even more. ShunWei's investment will be extremely beneficial as we continue to expand and move towards our vision of providing the fastest and simplest delivery possible."
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's Singapore City Director, Gaetano Seminario expresses how lalamove is critical for businesses to successfully respond to rapidly evolving market needs: "This successful funding round reflects the importance of the last-mile delivery space. This is particularly true in Singapore where consumers' expectations are extremely high in terms of delivery times and service quality, and always growing. Lalamove enables businesses to offer a best-in-class delivery experience to their end users while focusing on their core business."
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 Jun Lei (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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