Hong Kong-based mobile logistics booking platform Lalamove has received US$10 million series A financing led by Chinese venture firm Crystal Stream Capital, according to the official LinkdIn page of Lalamove’s CEO Chow Shing-yuk.
Hong Kong-based professional on-demand delivery service Lalamove has completed US$10 million series A round of financing from MindWorks Venture, AppWorks, Crystal Stream and other unnamed individuals investors.
Xianghe Capital, a Beijing-based venture capital firm founded by the former head of Baidu Inc’s merger and acquisition department Hesong Tang, has led a US$30 million series B round in Lalamove, a Hong Kong-based on-demand delivery start-up.
Hong Kong is a city with a population of seven million, but with only half a million private cars. So demand for logistics companies to help relocate furniture, not to mention pets, storage or simply move oversized goods across town is high. Thus, two aggressive Hong Kong-based on-demand delivery companies Lalamove and GoGoVan, are attracting investment from some big-name investors, despite questions over whether there is enough room for these newcomers to an already crowded market.
Entrepreneur Jeff Wang planned to start his company in Hong Kong in 2015, after obtaining a Ph.D. degree in mathematics from a prominent university in the U.K. The data expert wanted to use an analysis method called Topological Data Analysis, his Ph.D research topic, to help enterprises better analysis their data by visualizing it.
58 Suyun, a freight business unit under Chinese online marketplace 58 Daojia, has entered into a merger agreement with GoGoVan, a Hong Kong-based intra-city logistics online platform in Southeast Asia. It marks the largest merger and acquisition deal between a mainland Chinese start-up and a Hong Kong start-up, says a company announcement without disclosing any financial details. The deal also represents further consolidation in the intra-city logistics sector in China and in Asia. The merger will create one of Asia’s …
Chinese investment firm Shunwei Capital has led a US$100 million round in Lalamove, a Hong Kong-based same-day inner-city delivery and logistics provider in Southeast Asia and China.
Tiger Management Corp. has led a US$120 million D3 round in Yunmanman, a freight transportation and logistics mobile app operator in China, according to Chinese media reports.