Founding investor Inspire Ventures, together with PSA unboXed and Asia Summit Capital, also participated in the company’s latest round.
In a press statement, Deliveree said that it will use the new funding to “fuel … growth as Southeast Asia’s leading ground logistics marketplace and to expand its logistics technology solutions to businesses.”
When asked about the details of their expansion plan, Deliveree CEO and Co-Founder Tom Kim told e27, “Yes, Deliveree’s aim is to be Southeast Asia’s dominant logistics marketplace for ground transportation. This means we want to be a dominant player in all major metropolitan areas of Indonesia, Malaysia, Thailand, Vietnam, and the Philippines. Due to competitive reasons, we can’t share specifically which markets are next and the timing for each.”
“On the heels of our successful investment in GoGoVan, we believe that Southeast Asian businesses will increasingly adopt similar marketplace technologies to solve challenging old-world logistics problems. Deliveree’s team, operating model, and technology are the best positioned to lead the industry in this region,” Gobi Partners’ Partner Kay-Mok Ku commented on the investment.
Launched in 2015, Deliveree currently operates in Bangkok, Jakarta, and Manila, where it is known as Transportify.
With the aim to revolutionise the way businesses move goods, merchandise, and cargo, the Bangkok-based startup offers mobile and web app platforms with 15,000 trucks, vans, pickups, and economy vehicles on board.
The startup raised a US$2 million seed funding round from Inspire Ventures and Ardent Capital in February 2015.
“Over the past few years, there has been a substantial investment in small-parcel, last-mile consumer logistics due to the rise of e-commerce in Southeast Asia. However, this space suffers from poor operating economics,” Deliveree CFO Gagan Singh explained.
“Our focus at Deliveree is solving the cargo and bulk goods challenges faced by businesses with our sophisticated marketplace technology accessed via mobile and web apps. In the end, this is much more capital efficient and hence scalable,” he stressed.
Update: The previous version of the article stated that Ardent Capital is participating in the current round. Deliveree has clarified that Inspire Ventures is the only founding investor that is returning for the current round.
Image Credit: Deliveree