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Hong Kong-based on-demand logistics startup GoGoVan has raised a US$10 million series B-plus round of funding, according to Chinese startup blog 36kr. The investment is led by former 91 Wireless CEO Hu Zemin, followed by previous investors including Renren CEO Yizhou Chen.
GoGoVan is an on-demand cargo transportation service for urban areas that uses an Uber-style valet app to call up vans and trucks. Whether an individual needs to move furniture to a new apartment across town or a shop needs weekly deliveries to replenish inventory, GoGoVan aims to be a one-size fits all solution.
The startup previously raised a US$10 million series B round of funding from Chinese social network Renren in November, and a US$6.5 million series A led by Centurion Investment Management in August.
Established in 2013, GoGoVan now operates in Hong Kong, Singapore, Australia, Korea, Taiwan, and mainland China. It reports over 70,000 registered vans on its network.
The latest round of funding will be put toward development and expansion in the China market.
GoGoVan’s biggest direct competitor in the region is Lalamove, previously called EasyVan, which raised US$10 million led by China’s Crystal Stream Capital in January.
(Source: 36kr)
Editing by Michael Tegos
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