Huolala Global Investment Limited (“EasyVan”, “lalamove”, and “Huolala”) today announces that it has secured an investment of USD$10 million led by China based Crystal Stream Capital with participation from Geek Founders, Mindworks Ventures , Sirius Venture Capital, Aria Group and individual investors.
Launched in December 2013, lalamove (formerly EasyVan in Hong Kong and Singapore) has grown to be Asia’s largest mobile logistics booking platform. Originally created to dramatically improve last mile delivery and moving services by providing a more efficient and transparent way for users and drivers to connect, lalamove now hosts the largest footprint across Asia with operations in 6 cities including Hong Kong, Singapore, Bangkok, Guangzhou, Shenzhen and Taipei. The strategic investment will help lalamove further establish itself as a market leader in the cities it currently operates and fuel its further growth in the region.
Commenting on their investment in lalamove, Crystal stream believes lalamove represents a “thriving platform in the logistics industry led by a team with strong execution.”
Shing Chow, lalamove CEO & founder said, “We are thrilled that within 12 short months we have built a company that has experienced a tremendous amount of growth and could not be more excited to have the support of our investors to help us scale across the region. With the launch of Guangzhou and Shenzhen last week and the release of our WeChat app, we will look to push the boundaries of how logistics work by using technology to make them more customer and driver friendly. This round of funding will help us to continue our mission to create the world’s biggest logistics platform in transaction value. We are actively hiring talented developers and city founders to achieve the mission in two years.”
At its core, lalamove aims to transform the entire last mile delivery industry globally. Since its founding in late 2013, lalamove has connected hundreds of thousands of users to drivers on its smartphone based platform. The mobile application allows users to quickly find the best drivers nearby to help move their goods with only a couple taps on their smartphone. Tens of thousands of drivers have registered with lalamove and dramatically increased their income by finding nearby customers with delivery needs that fit their capabilities. As the leader in the region with a presence in 6 cities across China and Southeast Asia, lalamove has been downloaded more than a quarter million times in the past year.
About the Investors
Crystal stream is a china focused Venture Capital fund, established in 2012, with the mission of finding talented entrepreneurs in China and helping them become successful CEOs of successful enterprises. Its limited partners include HillhouseCapital and Qunar’s CEO, CC Zhuang.
Geek Founders is a venture firm that specializes in providing early stage funding to technology companies. Positioned as China’s Founders Fund, since inception the company has invested in over 30 companies, with emphasis on Mobile Tools, Offline to Online Platforms, and Online Entertainment.
MindWorks Ventures is a venture capital firm with office in London and Hong Kong. It invests in the brightest people solving difficult problems in the Southeast Asia and Greater China region. http://www.mwsventure.com/
Sirius Venture Capital is venture investment holding firm founded and owned by Eugene Wong. He is a seasoned venture investor. He has invested in several Consumer and Tech companies in China and Singapore such as Ajisen China, Neo Group, Japan Foods, Reebonz, Paradise Group, and was responsible to help Ajisen China list in HK, Neo Catering Group, Japan Foods list in SGX. http://www.sirius.com.sg/
Aria Group is a Hong Kong-based family office with a multi-strategy investment platform. ARIA invests in various asset classes globally, including fixed income, equities, real estate, private equity and other alternative investments. http://www.ariagp.com/
Stay up to date with the latest news about business in China here