Following their one millionth delivery, Huolala Global Investment Limited shares news that they have secured an investment of USD$10 million led by MindWorks Ventures as well as AppWorks, Crystal Stream and individual investors.
As the leading professional on-demand delivery service throughout Asia, Lalamove has officially announced their security of a USD$10 million dollars investment from MindWorks Venture, AppWorks, Crystal Stream and individuals investors.
The company, which is known as “EasyVan” in Hong Kong, features iOS and Android apps that allow businesses to instantly transport goods across a city using their network of delivery vehicles. It is similar to Uber’s on-demand model, but for intra city deliveries — qualified individuals with a valid license and vehicle can sign up to be a driver. The app serves as an affordable platform for businesses to “share” delivery vehicles.
“While very few startups thrive in both South East Asia and China markets, we are thrilled to show such growth in the past 18 months,” explains lalamove’s CEO and Founder, Shing Chow. “This continuous success validates our hypothesis — delivery as it exists in Asia isn’t optimal and bringing technology to this aging industry reduces drivers’ idle time, increases speed and efficiency while lowering costs.”
This investment comes at a pivotal moment as the company nears the end of the fourth quarter of the fiscal year – lalamove, known for connecting users in need and drivers of vans, motorcycles, trucks and lorries to move items and documents fast and efficiently, has also announced their expansion to 12 additional cities throughout China. The company’s push to spread across Fujian, Anhui, Guangdong, Sichuan, Zhejiang, Shandong and Hubei is set to be fully operational within the next three months starting with Shanghai and Chongqing this week.
Chow adds, “This new round of funding will help us extend our services to several new cities and provide businesses a faster and more efficient way to do delivery. We will also use the funding to help build best in class products to enhance our customers’ experience.”
While lalamove is actively seeking out new strategic partners, the company is also preparing for the advanced stages of its expansion — adding 50 cities throughout Asia to the company’s delivery network by the end of 2016. To learn more about the app and its technology, download Lalamove on Android or iOS for free.
“lalamove has been growing from strength to strength in Thailand,” said Santit Jirawongkraisorn, Co-founder and managing Director of lalamove Thailand. “We serve personal users and are also focused on SMEs in Thailand to meet with corporate courier and customer delivery demands,” he added.
“Since the launch of our app this year, we have a network of 1,100 drivers serving clients in Bangkok, and our app has had 25,000 downloads.”