Lalamove, a China-based on-demand logistics service, has raised $10m in a series A round backed by investors including design, engineering and manufacturing services provider Aria Group, Tech in Asia reported today.
Venture capital fund Crystal Stream Capital led the round, which included participation from Geek Founders, Mindworks Ventures, Sirius Venture Capital, and a number of unnamed individual investors.
Founded in December 2013, Lalamove is generally known by its original name, EasyVan. It provides vehicle-on-demand delivery services, enabling users to move goods across a city using a network of drivers accessed through its app.
Lalamove now operates in six cities – Hong Kong, Singapore, Bangkok, Guangzhou, Shenzhen and Taipei. Board member Blake Larson said the funding will be used to accelerate expansion across Southeast Asia and mainland China.
The company claims its app now has more than 250,000 users, with over 20,000 registered drivers operating in Hong Kong, Singapore and Bangkok. Larson said Taipei’s users should be able to use the app in the coming weeks.