Deliveree raises cash for expansion
In this article (5)
Thai-founded Deliveree has raised US$14.5 million in a series A funding round, the cash earmarked for further Southeast Asian expansion.
Since its launch in Bangkok three years ago, Deliveree has moved into Manila (operating as Transportify) and Jakarta. It will now expand into other markets in the region, likely to include Malaysia.
The concept links private drivers with businesses moving small parcels, tapping into the growing e-commerce economy, and is also moving into larger consignments, targeting online retailers receiving inventory prior to sale.
The latest funding round was led by Gobi Partners, which has a stake in Deliveree’s rival GoGoVan. Asia Summit Capital and foundation shareholder Inspire Ventures also invested.
“Over the past few years, there has been a substantial investment in small-parcel, last-mile
consumer logistics,” said Deliveree CFO Gagan Singh.
But, he said but the industry suffers from poor operating economics. He believes Deliveree’s technology is more easily scaled than that of rivals, like Hong Kong headquartered Lalamove and GoGoVan.
Deliveree claims to have 15,000 vehicles on its roster.
Questions & Answers
Q.What is the primary purpose of the recently raised funding for Deliveree?
What is the primary purpose of the recently raised funding for Deliveree?
The US$14.5 million in series A funding has been specifically earmarked for further expansion across Southeast Asia. This will include moving into new markets such as Malaysia, building on their existing operations in Bangkok, Manila, and Jakarta.
Q.Which specific companies led or participated in Deliveree's latest funding round?
Which specific companies led or participated in Deliveree's latest funding round?
Gobi Partners led the funding round, and they also hold a stake in Deliveree's competitor, GoGoVan. Asia Summit Capital and foundation shareholder Inspire Ventures were other investors who participated in this round.
Q.What are Deliveree's main business models and target customers for its logistics services?
What are Deliveree's main business models and target customers for its logistics services?
Deliveree connects private drivers with businesses needing to move small parcels, capitalising on the e-commerce economy. They are also expanding into larger consignments, targeting online retailers for inventory delivery prior to sale.
Q.Which other logistics companies are mentioned as Deliveree's rivals in the industry?
Which other logistics companies are mentioned as Deliveree's rivals in the industry?
The article mentions Lalamove, which is headquartered in Hong Kong, and GoGoVan as Deliveree's rivals. Gobi Partners, an investor in Deliveree, also holds a stake in GoGoVan.