Hong Kong logistics startup backed by Alibaba fund nets $15m in fresh funds

Pickupp, an on-demand delivery platform, announced that it has raised US$15 million recently.

More funding details

• Lead investor: PChome and Cornerstone Ventures
• Returning investors: Swire Properties
• New investors: Cathay Venture Inc, Drive Catalyst, Jardine Matheson Group, and Zipx
• Stage: Series A and A+

More company updates

• The fresh funds will be used to form partnerships aimed at developing digital offerings across the starup’s third-party logistics and ecommerce platform, Shop On Pickupp.
• Pickupp will also use the money to expand its dispatch network in Singapore, which could see an increase of at least 10 more dispatch points within the next 12 months.
• To date, Pickupp said its user base has grown by 250% since the outbreak of the pandemic in March 2020, with over 100,000 delivery agents onboarded across all regions.
• In Taiwan, local ecommerce giant PChome chose Pickupp as its logistics and ecommerce partner for its last-mile delivery solutions and to develop their ecommerce capability.
• In November 2020, the company raised a series A round from Vision Plus Capital, Alibaba Entrepreneurs Fund, Cyberport Macro Fund, Swire Properties, New Ventures, and SparkLabs Taipei.
• Currently, Pickupp has operations in Hong Kong, Singapore, Malaysia, and Taiwan.

For more coverage about the company, head here. You can also click on the link below to view the company’s key details and funding history.