As we work in a global economy, with fast-changing jobs and business deals that stretch from Chile to China, relocation has become a part of life for the working professional. It is also a stressful experience and can often involve moving a family or pet.
One Singaporean startup wants to help make that process less of a headache. Named Moovaz, the startup allows users to input the bare bones information; the origin of move, destination and how much stuff is being relocated. The company then aggregates services the person can use.
It also involves a survey whereby the user inputs items like cabinets, sofas or custom items. Then, after the delivery details are finalised, a Moovaz employee will contact the person and guide them through the relocation process.
Today, the company announced it has raised US$1 million seed round from a family office name MOJO Partners and executives from the American and Chinese tech industries.
The money will be used to further develop its core platform, improve its data analytics capabilities while preparing for an eventual regional launch.
““We structured the round to provide strong sounding boards for our various business units, and have achieved this by securing highly strategic investors who bring along vast industry experience,” said Moovaz Co-founder and CEO Lee Junxian in a statement.
The company is trying to solve the problem of an opaque industry whereby many intermediaries perform separate tasks. It wants to bring all of these companies into a one-stop online shop. It estimates the international relocation industry may be worth as much as US$80 billion in 2021.
Moovaz is hoping that by mixing machine learning, blockchain technology and their proprietary platform, they can help make the moving process more transparent and efficient.
Richard Koh, the Chief Technology Officer of Microsoft Singapore, explained why the technology is important.
“Having relocated multiple times in my career, I can understand the complexities behind the process. In the logistics industry, many moving parts are involved and unfortunately, there is a lack of visibility,” he said.
“There’s so much that I envision technology and blockchain can help to demystify this process, and I look forward to working closely with Moovaz to facilitate the development and adoption of blockchain into the logistics and relocation industry.”
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One advantage for Moovaz is their homebase of Singapore is heavily populated with immigrants with over 2 of the 5.6 million people living in the city being foreigners.
This means they are in a hub for people moving into, and out of, Asia. Obviously that’s great for building a user base, but it also helps Moovaz understand the pain points of people moving abroad.
Moovaz has about 2,000 partners on its platform.
Correction: A previous version of this article mis-attributed a quote from Richard Koh to Matthew Chapman.