Huolala Global Investment Limited (EasyVan, lalamove and Huolala) announced today that it has secured an investment of US$10 million in a Series A funding.
The funding was led by China-based Crystal Stream Capital, along with participation from Geek Founders, Mindworks Ventures, Sirius Venture Capital, Aria Group and individual investors.
Launched in December 2013, lalamove (formerly EasyVan in Hong Kong and Singapore) is a mobile logistics booking platform that aims to improve last mile delivery and moving services by providing a more efficient and transparent way for users and drivers to connect.
According to a media statement, lalamove now hosts the largest footprint across Asia with operations in six cities including Hong Kong, Singapore, Bangkok, Guangzhou, Shenzhen and Taipei. It added that this investment will help lalamove further establish itself as a market leader in the cities it currently operates and fuel its further growth in the region.
Commenting on their investment in lalamove, Crystal Stream believes lalamove represents a "thriving platform in the logistics industry led by a team with strong execution."
Shing Chow, CEO and founder of lalamove said, "We are thrilled that within 12 short months, we have built a company that has experienced a tremendous amount of growth and could not be more excited to have the support of our investors to help us scale across the region."
"This round of funding will help us to continue our mission to create the world's biggest logistics platform in transaction value. We are actively hiring talented developers and city founders to achieve the mission in two years," he added.
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