Lalamove, Asia’s leading on-demand delivery & logistics service provider, raised US $300M in its latest D1 round led by Hillhouse Capital on February 21, 2019. The funding will be used to strengthen Lalamove’s technological and innovation capabilities in China and Southeast Asia, its expansion into India, and new businesses such as car sales.
“Technology is redefining what can be achieved in the logistics industry, and Lalamove’s outstanding management team has placed it at the forefront of this trend,” said Lei Zhang, founder and CEO of Hillhouse Capital. “We have been impressed with the company’s success in Southeast Asia and China, and believe it is well-positioned to bring more efficient and convenient freight services to the sector.”
In total, Lalamove now operates in 11 cities in Asia outside of mainland China, and anticipates many more cities in the near future, with a strong focus on India.
Founded in Hong Kong in 2013, Lalamove connects users and drivers in a single platform to provide same city and on-demand delivery services. In 2014, Lalamove entered mainland China and always adhered to the two-line development of mainland China and South East markets. To date, Lalamove has registered three million drivers and served more than 28 million users.