TechCrunch
Lalamove, an Uber-like service for logistics, has raised $10 million to expand its presence across Asia, where it already operates in six cities.
The company, which began life in Hong Kong in December 2013, offers iOS and Android apps that allow customers to move items across a city using its network of ‘regular’ drivers. Its business model is basically akin to an ‘Uber for logistics’ since anyone with a valid license and car can sign up to be a driver.
The $10 million round is led by China’s Crystal Stream Capital, and it includes participation from Geek Founders, Mindworks Ventures, Sirius Venture Capital and Aria Group. Lalamove said a number of unnamed individual investors also took part.
Executive Blake Larson told TechCrunch in an interview that the money will be used to strengthen its position in its existing markets: Hong Kong, Singapore, Bangkok, Taipei and — as of last week — Guangzhou and Shenzhen. The capital will also be used to “further penetrate” China and enter more parts in Southeast Asia.
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