HONG KONG, Dec. 27, 2018 /PRNewswire/ -- Pickupp announced today that it has secured pre-A round of financing, in order to continue its growth and reach in Southeast Asia. The financing round was led by Alibaba Hong Kong Entrepreneurs Fund, participated by Spark Ventures and existing investor, Axis Capital.
Vincent Law, founder & managing director of Spark Ventures, a Hong Kong based venture capital firm that invests in Asia-based startups which comprise of disruptive enterprise technology and innovative infrastructure, commented, "Pickupp is a logistics technology platform that utilises their proprietary optimisation technology to provide low cost delivery solutions for express and same day deliveries in a two-sided marketplace. We are impressed by their technological capabilities and also talented team. The team has shown great potential, evident from Pickupp's impressive growth trajectory, already expanding to other geographical markets. With its advanced optimisation batching technology and validated data analytics model, Pickupp provides an excellent platform for both merchants and customers to enjoy a cost effective and efficient delivery experience."
The Company was founded by Uber alumnus Crystal Pang and Eric San, and Paco Chan, former Procter and Gamble sales and marketing executive. Crystal Pang, Co-founder & CEO said, "We are privileged to have Alibaba Hong Kong Entrepreneurs Fund as our shareholder, it's a validation of our business model, which is focusing on real time optimization of asset-light delivery options. With the access to new capital, strategic guidance and technical know-how, we look forward to participating in the Alibaba ecosystem in Asia while broadening our product offerings to better serve merchants of all sizes and needs."
Established in December 2016, Pickupp is a fast growing logistics optimization platform offering the most efficient, dynamic, low cost solutions for merchants with delivery needs in Hong Kong, Singapore and Malaysia.
Pickupp is specialized in providing 4-hour, same day or scheduled door-to-door delivery service with a diverse supply network.
Pickupp's uniqueness lies in the highly optimized batching & chaining technology, we provide tailored last mile service for both bulk & ad-hoc deliveries with transparency. Merchants no longer have to bear the high cost of a delivery fleet, and can de-bottleneck peak sales period by utilizing the idle & available logistics manpower out there, scaling their business without sacrificing speed & cost.
Pickupp's real time GPS tracking, flexible delivery window and scheduling feature for routine and sporadic demand have already assisted 10,000+ online and offline retailers to delight their customers with same-day deliveries.
SOURCE Pickupp Ltd