Aditya Hadi Pratama · · 1 min readEx-Uber employee’s logistics firm raises $6.5m in series A round
Jumppoint, a Hong Kong-based logistics firm, has secured US$6.5 million in a series A round led by MindWorks Capital. Headline Asia, Chinachem Group, Dada Nexus founder Philip Kuai, and the Hong Kong’s government’s Innovation and Technology Venture Fund also participated in the fundraise.
Kuai will join Jumppoint as a board advisor.
Image credit: Jumppoint
Founded in 2020, the startup offers services such as domestic express, cold-chain delivery, warehousing, fulfillment, and cross-border logistics across Hong Kong and Southeast Asia. Jumppoint currently handles more than 200,000 orders per month and manages around 400,000 square feet of warehouse space.
On top of aggregating logistics service providers, the company has built a proprietary dynamic route optimization and demand prediction engine, according to a statement. Jumppoint also said that its in-house features are what sets it apart from its competitors.
See also: Series SEA: Who’s investing in the region’s logistics and transportation startups?
The startup, which was established by former Uber employee Samson Ho, also claimed that it is on track to reach profitability by the third quarter of this year.
Jumppoint plans to use the fresh funding to hire more employees, enhance its platform’s capabilities, strengthen local operations, and expand its services to Thailand, Singapore, and Malaysia.
Editing by Miguel Cordon and Eileen C. Ang
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