LOGISTICS startup Deliveree, also known as Transportify in the Philippines, said on Tuesday that it has secured funding worth $14.5 million to expand its business in Southeast Asia.
“Over the past few years, there has been a substantial investment in small-parcel, last-mile consumer logistics due to the rise of e-commerce in Southeast Asia. However, this space suffers from poor operating economics,” Deliveree’s Chief Finance Officer Gagan Singh said in a statement.
“Our focus at Deliveree is solving the cargo and bulk goods challenges faced by businesses with our sophisticated marketplace technology accessed via mobile and web apps. In the end, this is much more capital efficient and hence scalable,” Singh added.
The Series A round of funding was participated in by PSA Unboxed, Asia Summit Capital, and Inspire Ventures, and was led by Gobi Partners.
“Gobi is delighted to lead Deliveree’s Series A. On the heels of our successful investment in GoGoVan, we believe that Southeast Asian businesses will increasingly adopt similar marketplace technologies to solve challenging old-world logistics problems. Deliveree’s team, operating model, and technology are the best positioned to lead the industry in this region,” Gobi Partner Kay-Mok Ku said.
Deliveree currently serves Thailand, the Philippines, and Indonesia with a fleet of 15,000 trucks, vans, pick-ups, and economy vehicles.
It provides transportation of goods, merchandise, and cargo on a pay-as-you-go basis in order to cut ground transportation costs.