Cross-border logistics and fulfillment company, AllSome Fulfillment, raised USD 1.94 million in fresh investments after it graduated from the Y Combinator accelerator’s Winter 2019 class.
The financing came from several new investors including East Ventures, 500Startups, and Y Combinator itself. The co-founder and former CTO of Indonesian travel tech unicorn Traveloka, Derianto Kusuma, also took part in this round of financing. Existing investor SOSV came in again for this round, said the official statement.
In the statement, AllSome said it would use the funds to improve its cross-border and e-commerce fulfillment needs across Southeast Asia.
Today, the Chinese startup has a network of 250 virtual warehouses in China and Malaysia supporting online sellers with solutions like access to international suppliers, offshore quality assurance, secured storage, door-to-door delivery, and a parcel tracking feature.
The company is also building up its fulfillment network across Southeast Asia. Starting with Indonesia, the company wants to reduce cross-border fulfillment and logistics costs by at least 40% so that online sellers can also reduce their supply chain costs.