Ezyhaul, a Singapore-headquartered logistics technology startup, has raised S$1.2 million (over US$800,000) in seed funding from a group of undisclosed logistics industry leaders.
The investment will be used for product development, growth within Ezyhaul’s launch market Malaysia, and allow initial expansion to key markets in Southeast Asia, said Co-founder and CEO Raymond Gillon.
“Since our launch, we see 80 per cent month-over-month volume growth supported by an experienced team located in offices in Kuala Lumpur, Penang and Johor Bahru. We are currently opening offices in two additional key markets in Southeast Asia where we will be launching early 2017,” Gillon added.
Founded in April 2016, Ezyhaul’s mission is to transform transportation logistics by building an ecosystem around shippers, truckers, government agencies, and third-party service providers. It is focused on improving inefficiencies in the highly-fragmented road freight industry in Southeast Asia.
Ezyhaul’s free-to-use logistics technology platform allows clients to connect directly with transportation companies and make online bookings for domestic and cross-border transportation services, using an Uber-like technology platform. The platform also provides real-time track and trace visibility and access to electronic documentation and e-PODs (proof of delivery).
Transportation companies use Ezyhaul’s apps to accept shipments and maximise their vehicle utilisation and reduce empty backhauls.
The startup focuses on medium-size and larger manufacturers and trading companies, as well as transportation and logistics service providers. In its first three months, Ezyhaul has signed up a host of marquee clients such as DB Schenker, Ninja Van, Hellmann Worldwide Logistics. Several other freight forwarding firms like Damco as well as MNCs will enrol early 2017, it said in a statement.
Currently, Ezyhaul’s network in Malaysia includes over 500 trucks of various capacities and this number is growing rapidly on a weekly basis. “Our aim is to have at least 2,500 trucks registered on our platform within the first 12 months”, adds Co-founder and COO Mudasar Mohamed. “However, we value quality over quantity and as such we run a thorough qualification of all transportation companies that we on-board to ensure we can meet the strict requirements in terms of security and service levels of many of our clients.”
Image Credit: EzyHaul