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| Source: GOGOVAN. A GOGOVAN employee holding a box in front of a van in GOGOVAN livery. |
GOGOVAN, the first logistics platform on a mobile app in Asia, has raised US$250 million in the first phase of its new round of funding. This round was led by InnoVision Capital, along with Alibaba’s logistics arm Cainiao, the Russia-China Investment Fund, Hongrun Capital, Qianhai Fund of Funds, and 58 Daojia Group.
GOGOVAN merged last August with the largest intra-city logistics platform in China, 58 Suyun. The group operates in over 300 cities, serves more than 8 millions users, and is supported by 2,000 employees worldwide. The merger has created synergies on fleet utilisation, geographical coverage, and has formed a solid foundation for high growth.
“Since the merger, our business has been advancing rapidly. With the number of powerful investors on board in this round of funding, it shows that the market approves of our strategy. We will be using the new funds to expand our service offerings and grow new markets. In the next few months, we will offer door-to-door service to fulfill the demand of small-item segment. We strive to provide simplify logistics and delivery services,” said Steven Lam, CEO and Co-Founder of GOGOVAN.
GOGOVAN merged last August with the largest intra-city logistics platform in China, 58 Suyun. The group operates in over 300 cities, serves more than 8 millions users, and is supported by 2,000 employees worldwide. The merger has created synergies on fleet utilisation, geographical coverage, and has formed a solid foundation for high growth.
“Since the merger, our business has been advancing rapidly. With the number of powerful investors on board in this round of funding, it shows that the market approves of our strategy. We will be using the new funds to expand our service offerings and grow new markets. In the next few months, we will offer door-to-door service to fulfill the demand of small-item segment. We strive to provide simplify logistics and delivery services,” said Steven Lam, CEO and Co-Founder of GOGOVAN.
Since its establishment in 2013, investors in GOGOVAN have included Centurion Private Equity, Renren, MFund, New Horizon Capital, the Alibaba Entrepreneurs Fund, Singapore Press Holdings, and Hotung Investment Holdings.
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