Aditya Hadi Pratama · · 1 min readNanofilm founder pours $1.5m into SG logistics firm
Singapore-based logistics company uParcel has raised a S$2 million (around US$1.5 million) pre-series A round from Nanofilm founder Shi Xu.
Package delivery / Photo credit: uParcel
Founded in 2015, uParcel runs a delivery service that maps out optimal routes for riders to deliver several packages. It offers one-hour, three-hour, six-hour, and next-day delivery options for its users in Singapore, as well as Johor Bahru and Klang Valley in Malaysia.
According to a statement, the company’s annual revenue has doubled from last year’s figure. In 2019, uParcel also claims to have served 10,000 merchants.
Moving forward, the company plans to use the fresh funds for product expansion and to scale into different markets.
Read also: The key ecommerce logistics players and enablers in Southeast Asia
Xu, the investor in this round, built Nanofilm decades ago. Branching off from Singapore’s Nanyang Technological University in 1999, the company’s main revenue comes from its coating business, which makes products like smartphones, tablets, and printer components more durable and aesthetically pleasing.
In late 2020, Nanofilm raised up to S$510 million (around US$379 million) via an IPO in Singapore. Reuters reported then that it was the city-state’s biggest listing in at least eight years.
Currency converted from Singapore dollar to US dollar: US$1 = S$1.35
Editing by Miguel Cordon and Jaclyn Tiu
(And yes, we’re serious about ethics and transparency. More information here.)
Stay updated on the go with our mobile app.
Get latest insights with smoother, more personalized experience through TIA mobile app.
