Friday, 4 April 2025
26.5 C
Singapore
31.7 C
Thailand
22 C
Indonesia
27.4 C
Philippines

Lalamove hits unicorn valuation after US$300M Series D round to expand in Asia

Hong Kong-based logistics startup, Lalamove, has secured a US$300 million series D round of funding, bringing the startup into the unicorn club. This new round is split into two, D1 led by Hillhouse Capital and D2 led by Sequoia China. Other investors that participated include new backers Eastern Bell Venture Capital and PV Capital and […]

Hong Kong-based logistics startup, Lalamove, has secured a US$300 million series D round of funding, bringing the startup into the unicorn club. This new round is split into two, D1 led by Hillhouse Capital and D2 led by Sequoia China. Other investors that participated include new backers Eastern Bell Venture Capital and PV Capital and existing investors including ShunWei Capital (founded by Xiaomi CEO Lei Jun), Xiang He Capital and MindWorks Ventures.

Founded in 2013 by Stanford graduate Shing Chow, Lalamove offers logistics and delivery solutions, primarily focused on business and corporate customers via its platform. In addition to cities throughout the Greater China region, the startup operates in 11 cities including Singapore, Malaysia, and Indonesia.

Lalamove eyes to use the newly acquired funds will go towards expanding its reach with additional city launches in Southeast Asia and accelerate its entry to India.

Since its inception in 2013, Lalamove has raised over US$460 million, with the previous Series C in late 2017 at US$100 million.

โ€œDriven by technological innovation, well-run operations, efficient platform matching, and quality service, Lalamove has been able to differentiate itself from other players and secure a leading position in the industry,โ€

Neil Shen, Founder and Managing Partner of Sequoia China

Hot this week

Apple Intelligence now supports English (Singapore) with the latest update

Appleโ€™s latest update brings Apple Intelligence support for English (Singapore), making AI features more accessible without needing US English settings.

Vivo challenges iPhone 16 Pro Max with X200 Ultraโ€™s video stability

Vivoโ€™s X200 Ultra teaser compares video stability with the iPhone 16 Pro Max, promising top-tier camera upgrades and advanced stabilisation.

Roblox introduces new parental controls to enhance child safety

Roblox introduces new parental controls, allowing parents to block games, restrict friends, and monitor their childโ€™s activity for better safety.

Misconceptions about STEM careers continue to deter young women in Singapore

New research shows stereotypes and lack of support are deterring young women from STEM careers, posing a risk to Singaporeโ€™s innovation goals.

Gmail introduces easier encryption for business emails

Google introduces a new encryption model for Gmail, making it easier for businesses to send secure emails without special software or certificates.

MediaTekโ€™s Kompanio Ultra chip challenges Copilot+ PCs with AI power

MediaTekโ€™s Kompanio Ultra chip brings powerful AI processing and high-end performance to Chrome OS, competing with Windows Copilot+ PCs.

Pixel 10 to feature more cameras, but with downgraded specs

Google's Pixel 10 may feature more cameras but with downgraded specs, including a telephoto lens, while the Pixel 10 Pro retains its advanced setup.

Samsung unveils Galaxy Tab S10 FE+ and S10 FE with AI features

Samsung launches the Galaxy Tab S10 FE+ and S10 FE, its first AI-powered FE tablets, in Singapore on April 25, 2025, with special offers.

OpenAI invests in cybersecurity to combat AI-driven threats

OpenAI has made its first cybersecurity investment in Adaptive Security, a startup that uses AI to train employees to detect and prevent cyber threats.

Related Articles