Lalamove announced that it has recently completed its latest USD 100M Series C funding round, which is the first step in its expansion in Asia.
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.
Lalamove 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 meeting the 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.
Leveraging the power of the web, mobile app technology, and the sharing economy, Lalamove provides same-day delivery services for SMEs that require fast, on-demand delivery services. Additionally, it also 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.
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.