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The beginning of home logistics technology Collection today (December 8) announced that it has raised another $ 37 million in funding for its Series B series.
This is the third round of funding after the initial round of Serie A in November 2020 and the round of series A + in July 2021. Approximately $ 20 million.
This B-series round was led by Jardine Matheson, which included existing investors Reefknot Investments, Cathay Venture Inc., PChome Online Inc., DRIVE Catalyst (Far Eastern Group’s business lineup) and Swire Properties.
According to the startup, the funding will be used to deepen its presence in Asia and strengthen the infrastructure of the region’s logistics network, and thus better position itself to drive rapid growth in e-commerce and e-commerce.
The startup will enable it to implement a more comprehensive business plan and, from a strategic perspective, support investor businesses and online strategies.
“This round of financing is an important milestone for our fast-growing business in Asia and has been a strong and ongoing support for investors across the region over the past 13 months. , we are proud to be an innovative logistics technology company that supports our customers and strategic partners, ”said Crystal Pang, co-founder and CEO of Pickupp.
“This turn of investment once again demonstrates our customers’ faith in the capability and reliability of our last mile delivery services, as they have gained the trust of the leading MNCs and digital start-ups. ».
Redefining landscape logistics
Founded in 2016, Pickupp is redefining logistics with transparent customer-based service and technology.
Over the past 13 months, Pickupp has expanded rapidly as its product portfolio and offerings continue to diversify across all industries and verticals.
Pickupp will introduce 10 new satellite repositories in the heart of Singapore in mid-2022.
The expansion of these service points — which includes pick-up and drop-off services, micro-filling and storage, and cross-border services — is in line with Pickupp’s goal of improving the efficiency of shipment during peak hours and decarbonizing its operations. pool of agents for the delivery of walkers and cyclists.
“Rapid trade is becoming more widespread in Singapore, and more and more consumers are daring to buy food and daily necessities online. Pickupp Chief Operating Officer.
“Investments in our technology and the deployment of our satellite networks will continue to be an essential part of our operational strategy as we aim to provide our customers with the most reliable and efficient delivery services.”
To date, Pickupp has worked with 24,000 retailers and has more than 100,000 shipping agents in Singapore, Malaysia, Hong Kong and Taiwan. The company has seen a 94 percent increase in its user base since 2021, driven by growing demand for the digital economy.
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Featured Image Credit: Pickupp
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