Singapore-based logistics startup Pickupp has raised an undisclosed amount of funding in a Series A round held in November 2020. Investors in the round include Vision Plus Capital, Alibaba Entrepreneurs Fund, Cyberport Macro Fund, Swire Properties New Ventures and SparkLabs Taipei.
The fresh funds will be used by the startup to fast-track its expansion in Southeast Asia, with a goal to cater to 10 major markets within the next five years. Pickupp is also planning to expand its product portfolio and offerings, concentrating on the retail and e-commerce industries, as per a press note released by the startup.
Pickupp, founded in December 2016 by Crystal Pang, Eric San, Paco Chan is a logistics tech startup that provides merchants and individuals with on-demand retail solutions as well as optimized and cost-effective deliveries. It started providing personalized last-mile delivery services for bulk and ad-hoc deliveries in mid-2017. It offers 4-Hour On-Demand Courier & Same Day Delivery, Next Day Delivery and 1-3 Days Delivery through its platform. It has expanded quickly since its inception and is now running in Hong Kong, Singapore, Malaysia and Taiwan as well. The startup claims to be currently catering to more than 50K customers and 10K+ e-commerce merchants across Asia, including companies such as Charles & Keith.
CEO Crystal Pang said Pickupp is transforming logistics with a data-driven approach. Its technology, agility, transparency and novelty enables its customers to successfully scale and thrive. The startup also claimed that its flexible delivery services will help retailers improve their business strategies and help them to understand the requirements of their customers better. The logistics startup also operates an e-commerce platform and offers free delivery across Singapore for businesses listed on it.
About Vision Plus Capital
Founded in 2015, Vision Plus is a venture capital fund headquartered in Hangzhou, with offices in Beijing and Shanghai. It focuses on RMB and the dollar dual currency investment and early-stage startups working in internet innovation, consumer upgrades, digital healthcare, advanced computing sectors.
About Alibaba Entrepreneurs Fund
The Alibaba Entrepreneurs Fund is a not-for-profit initiative of Alibaba Group that provides entrepreneurs and young people with venture capital and strategic direction to help them better accomplish their goals.
It aims to empower Hong Kong and Taiwan-based entrepreneurs with venture capital and mentoring to help them develop their businesses and enter global markets by utilizing Alibaba’s massive ecosystem. Its portfolio includes companies such as Airwallex, OneDegree, Polygence, StockViva, WeLab among many others.
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