Malaysia’s TheLorry nets $5.9m to ‘improve perceptions’ about truck driving

On-demand logistics startup TheLorry has raised US$5.85 million in series B funding.

FirstFloor Capital led the series B round, with PNB-Inspire Ethical Fund I, Cradle Seed Ventures, Axiata Digital Innovation Fund, and SPH Ventures joining in.

The Lorry co-founders Goh Chee Hau (L) and Nadhir Ashafiq (R) / Photo credit: TheLorry

TheLorry’s platform connects individuals and businesses in need of some haulage help with van and truck drivers seeking one-off jobs. It competes with the likes of Hong Kong-based unicorns Lalamove and Gogovan, and counts Coca-Cola, Lazada, and Unilever among its corporate clients.

In addition to its native Malaysia, TheLorry also has operations in Indonesia, Singapore, and Thailand. In a statement, the startup claimed to be profitable in Malaysia and Singapore, having seen “multiple-fold” growth since its US$1.5 million series A fundraise in early 2016.

Part of its latest capital injection will be used to strengthen its presence across all four of its markets. Some of the money will also be invested to “develop and improve the perception [of] lorry and truck drivers in their respective communities,” the company said in its statement.

“There is a lot of value in a lorry and truck-driving career that many people have yet to see and appreciate. We want to be the agent of change in uplifting the status and income of lorry and truck drivers in this region,” said TheLorry co-founder and executive director Nadhir Ashafiq.

Hinting at how TheLorry plans to out these plans into action, Ashafiq told Tech in Asia the startup sees its driver-partners “as key to our operations considering they are our first touch point with the customers on a daily basis.”

“As such, we feel it is our mission to continuously add value to their lives, whether it be hard skill and soft skills training as well as building a robust ecosystem of complimentary services,” he said.

On-demand services offering passenger transportation, such as Go-Jek and Grab, provide a range of worker protections and perks for their drivers. Go-Jek unveiled its benefits program for Singapore drivers, including earnings protection insurance, medical consultations, and fuel discounts, last week. Earlier in March, Grab announced a range of new insurance options for its drivers through its partnership with ZhongAn, adding to its already extensive suite of insurance, fuel and vehicle maintenance discounts, and scholarships for family members.