Business & Economy Startups ​​Hong Kong startup Pickupp raises funding from Alibaba, Spark Ventures, Axis Capital

​​Hong Kong startup Pickupp raises funding from Alibaba, Spark Ventures, Axis Capital




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Pickupp, which has a presence in Malaysia and Singapore, will use the funds to expand into Ho Chi Minh City in early 2019

The Pickupp team

​​​​​​​Pickupp, a logistics technology startup based out of Hong Kong, today announced it has secured an undisclosed sum in pre-Series A round of financing, led by Alibaba Hong Kong Entrepreneurs Fund, with participation from local VC firm Spark Ventures and existing investor Axis Capital.

The new funds will be used for engineering resources to handle API integration with e-commerce marketplace and multinational 3PL couriers; marketing efforts to further penetrate omni-channel sales for retailers; and expansion to other locations in Southeast Asia (Ho Chi Minh city planned for early 2019).

“With the access to new capital, strategic guidance and technical know-how, we look forward to participating in the Alibaba ecosystem in Asia while broadening our product offerings to better serve merchants of all sizes and needs,” said Crystal Pang, Co-founder and CEO of Pickupp.

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Also Read: Pickupp focusses on optimisation to help lower delivery service cost

Pickupp was founded in December 2016 by Pang, Eric San, and Paco Chan. It is a logistics optimisation platform offering low cost solutions for merchants with delivery needs in Hong Kong, Singapore and Malaysia. The firm provides tailored last-mile service for both bulk and ad-hoc deliveries.

Pickupp claims it provides 4-hour, same day or scheduled door-to-door delivery service with a diverse supply network.

Vincent Law, Founder and MD of Spark Ventures, said: “Pickupp is a logistics technology platform that utilises their proprietary optimisation technology to provide low cost delivery solutions for express and same day deliveries in a two-sided marketplace. With its advanced optimisation batching technology and validated data analytics model, Pickupp provides an excellent platform for both merchants and customers to enjoy a cost effective and efficient delivery experience.”

The post ​​Hong Kong startup Pickupp raises funding from Alibaba, Spark Ventures, Axis Capital appeared first on e27.

Source: E27

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