Lalamove raises $100m in new funding round
Hong Kong-based on demand logistics player Lalamove has raised $100m in a new funding round. According to local reports, the series C round was led by Shunwei Capital and takes Lalamove’s total disclosed funding thus far to $160m.
The company is now active in around 100 cities in China (where it is known Huolala) and elsewhere across Asia.
According to local media reports, Lalamove plans to use the new funding to further expand in Vietnam, and enter Malaysia and Indonesia.
“We look for cities that have reached critical mass – so large, major cities – where we see there is a lot of fragmentation, and that require improvement in logistics,” founder and CEO Shing Chow was quoted as saying.