Pickupp, a Hong Kong-based tech-equipped logistics platform offering efficient and low-cost delivery solutions, has secured US$ 15 million in a Series A+ investment round co-led by Cornerstone Ventures and PChome on 5 July 2021.
Investors: The funding round featured PChome and Cornerstone Ventures as the lead investors with participation from Swire Properties, Cathay Venture, DRIVE Catalyst and many more investors.
Purpose of the funding: Pickupp seeks to deploy the proceeds from the investment round towards expansion in Taiwan and deepen its presence in critical markets. The startup wishes to take advantage of the opportunities created during the drifting growth in e-commerce.
About Pickupp
Co-founded in 2016 by Crystal Pang, Eric San and Paco Chan, Pickupp is a logistics platform dedicated to supporting merchants and individuals with on-demand retail solutions and optimized and cost-effective deliveries. The startup claims to satisfy any door-to-door delivery needs at a low cost with its wide range of supply networks. The secret behind its high-end services lies in the enhanced batching and chaining technique. It currently operates in Hong Kong, Taiwan, Malaysia and Singapore. In the wake of the pandemic, Pickupp’s market share has expanded by 250 per cent, with more than 100,000 delivery agents absorbed across all regions.
What the Founder has to say: “It is exhilarating to be financially assisted by new corporations. The funds raised from the new round will aid in meeting our expansion plans in Taiwan and other nations and broaden our product portfolio and services according to the requirements of every market. Our target region has immense growth potential. We believe in remarkably improving the assistance provided to SMEs to help them accomplish the rising demands of the digital economy. Joining hands with PChome is special for us as they share our deep dedication to innovation and offering of deluxe O2O services.” Crystal Pang, Co-Founder of Pickupp.
What the Investors have to say: “Being an important player in the e-commerce industry in Taiwan, PChome seeks to offer trusted services to its users daily, which we believe is a keystone. In our history of more than 20 years, we have functioned jointly with several logistic corporates to upgrade our offerings. Pickupp’s technological solution would play an important role in restructuring how last-mile delivery is met regionally, including Taiwan. Being associated with Pickupp as a strategic partner and a lead investor in the Series A+ funding round is an honour for us, and we are excited about this partnership.”- Kevin Tsai, CEO of PChome.
For more extensive analysis and Market Intelligence reports feel free to approach us or visit our website: Venture Capital Market Intelligence Reports | VCBay.
We try our best to fact check and bring the best, well-researched and non-plagiarized content to you. Please let us know
-if there are any discrepancies in any of our published stories,
-how we can improve,
-what stories you would like us to cover and what information you are looking for, in the comments section below or through our contact form! We look forward to your feedback and thank you for stopping by!
Next Article
