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Thai-founded Deliveree has raised US$14.5 million in a series A funding round, the cash earmarked for further Southeast Asian expansion.
Since its launch in Bangkok three years ago, Deliveree has moved into Manila (operating as Transportify) and Jakarta. It will now expand into other markets in the region, likely to include Malaysia.
The concept links private drivers with businesses moving small parcels, tapping into the growing e-commerce economy, and is also moving into larger consignments, targeting online retailers receiving inventory prior to sale.
The latest funding round was led by Gobi Partners, which has a stake in Deliveree’s rival GoGoVan. Asia Summit Capital and foundation shareholder Inspire Ventures also invested.
“Over the past few years, there has been a substantial investment in small-parcel, last-mile
consumer logistics,” said Deliveree CFO Gagan Singh.
But, he said but the industry suffers from poor operating economics. He believes Deliveree’s technology is more easily scaled than that of rivals, like Hong Kong headquartered Lalamove and GoGoVan.
Deliveree claims to have 15,000 vehicles on its roster.