Lalamove eyes growth, raises Series C to expand delivery coverage in Asia

Posted on Oct 19 2017 - 11:56am by Upgrade Staff

Lalamove, a same-day delivery and logistics provider in Southeast Asia and China with a presence in Manila, completed its latest $100M Series C funding round. The latest investment comes as Lalamove Philippines gains a foothold in the Manila market.

Lalamove provides on-demand delivery services 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. The round was led by ShunWei Capital, a venture capital firm that invests in growth stage startups.

Of the investment, Shunwei Capital Partner Cheng Tian said: “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 standardization, 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. In July 2017, the company reached a milestone of providing delivery in 100 cities. Lalamove services over 15 million users and is supported by over two million drivers while continuing to expand across China and Southeast Asia.

READ:  Siemon offers new E-book 'Advanced Network Infrastructure 2015'

Shing Chow, founder and CEO of Lalamove, said: “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.

For Lalamove Philippines country director, Albert Go, 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.”

Related Posts

FINTQ, Grab sign pact for financial enablement of ... FINTQ, the financial technology arm of PLDT and Smart’s Voyager Innovations, is working with Transport Network Vehicle Service (TNVS) Company Grab Phi...
Yahoo releases update on data security issue annou... For those still using Yahoo, the company has released an update to its users about a data security issue that the company previously announced in Dece...
Phl ripe for analytics, says anaplan’s Grant Hallo... SINGAPORE – The Philippines is ripe for analytics, said Grant Halloran, chief marketing officer of anaplan, a company that combines “analytics and pla...
McAfee announces new status as standalone cybersec... McAfee announced that it has begun operating as a new standalone company. As a standalone business, McAfee is one of the world’s largest pure-play cyb...
The evolving gaming industry online By Lily Asis SOURCE: Pexels The online gaming industry has changed a lot over the years. Each week, month and year new games are being launched. T...
Symphony launches secure communications workflow p... Symphony Communication Services has announced the global availability of its secure and compliant messaging service. This was announced as the company...
Ricoh Theta S 360-degree cameras now globally avai... Ricoh Imaging Americas announced its Theta S 360-degree camera and accessories are now widely available. In the US, the Theta S has been available sin...
Acer Philippines’ TECHonomy Forum held in Ce... Technology adoption and transformation plays a vital role in boosting the competitiveness of local businesses and industries particularly the micro, s...
Where next for Optical Networks? Terabit super-channels and multi-layer switching architectures enable optimal capacity allocation and network efficiency to meet evolving network dyna...
ION Management Solutions launches solutions for en... Systems integrator ION Management Solutions launched solutions to address the needs of the Philippines’ enterprise market’s demand for IT solutions. ...
About the Author

Leave A Response