Singapore-headquartered logistics startup Inteluck announced Tuesday that it has raised over USD 5 million in its Series Pre-B funding round led by MindWorks Capital and joined by Infinity Venture Partners and on-demand logistics technology platform Lalamove, according to a press release of Inteluck.
Mindworks Capital is also an investor for Lalamove, which was set up in Hong Kong in 2013 and turned a unicorn after closing its USD 300 million Series D round in 2019, KrASIA reported.
Lalamove operates in over 300 cities across China, Southeast Asia, India, and Latin America, monthly matching over 6 million active customers with about 440,000 drivers of vans, trucks and other vehicles to provide same-day delivery services, according to Inteluck’s press release. The company offers an app for individual users and another platform for corporate clients.
Inteluck, a business to business (B2B) online marketplace connecting trucking companies with businesses in need of delivery services, said it will use the new cash to launch an intelligent dispatch system and further expand its customer base in the Philippines, adding that it plans to reach other markets within Southeast Asia.
The startup says it has amassed more than 17,000 certified trucks since early 2018 to become the largest trucking fleet in the Philippines, offering its services to over 100 enterprises including Coca-Cola, Oppo, and Asia Brewery.
This article is part of KrASIA’s “China Brief” section, where KrASIA’s reporters will provide quick daily updates about the tech ecosystem in China.