Lalamove, the popular 24/7 van delivery startup company has nabbed US $10 million from Chinese investors for further expansion of their business. The funding round was led by China’s Crystal Stream Capital. Geek Founders, Mindworks Ventures, Sirius Venture Capital, Aria Group, and individual investors are among their other investors.
Lalamove and its rival, Gogovan; both started in the year 2013, with the goal of applying Uber’s vehicle-on-demand model to the urban logistics industry. Users can open the app, specify the goods they want moved and the order is then sent out to a network of drivers.
Originally known as EasyVan in China and Hong Kong, Lalamove will spread to South-East Asia and Mainland China. Its app is live in Singapore and Thailand, and has been accessible in Shenzhen and Guangzhou since mid-December, which Taipei residents will be able to use the services. Realizing the value and popularity of We-Chat, the Larson team has incorporated its services with it. Larson expects the bulk of Lalamove’s order volume in Southeast Asiato come from large logistics providers who outsource their last-mile delivery to third-parties.
Blake Larson, Board Advisor to Lalamove, broke to online news site – ‘Tech In Asia’ that Lalamove’s operations in mainland China will be run by Shing Chow, who is the company’s CEO and co-founder. Larson will administer all other Asian markets for the time being. “A lot of investors will typically advise companies to focus on China or Southeast Asia, but not both, because China is its own animal,” Larson said.