Total amount raised
$8.5 Billions
Latest funding date
1/1/2021
Location
Lalamove has successfully raised significant funding over multiple rounds, with its latest being a Series F. The company has attracted a diverse group of investors, including Tiger Fund and Boyu Capital.
Keep reading to explore the intricacies of Lalamove's fundraising journey and the investors backing this innovative platform.
What Is Lalamove?
Lalamove, originally known as EasyVan, was founded in December 2013 in Hong Kong by Chow Shing Yuk, Gary Hui, and Santit Jirawongkraisorn. The company specializes in on-demand and same-day delivery services, connecting users and drivers through mobile and web apps.
Operating in 21 markets across Asia and Latin America, Lalamove offers a variety of vehicles to suit different delivery needs, including lorries, vans, cars, and two-wheel vehicles. The platform ensures fast and reliable deliveries, optimizing routes to maximize drivers' earning potential.
With a workforce of 1001-5000 employees, Lalamove has grown into one of Hong Kong’s homegrown unicorn startups, revolutionizing the logistics industry by providing efficient and cost-effective delivery solutions.
How Much Funding Has Lalamove Raised?
- Seed Round
- Amount Raised: $1.5M
- Date: November 2014
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart operations and develop the initial platform.
- Series A
- Amount Raised: $10M
- Date: January 2015
- Lead Investors: Crystal Stream Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand market presence and enhance technology.
- Series A (Additional)
- Amount Raised: $10M
- Date: September 2015
- Lead Investors: MindWorks Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further scale operations and improve service offerings.
- Series A (Additional)
- Amount Raised: $10M
- Date: May 2016
- Lead Investors: MindWorks Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support regional expansion and technology upgrades.
- Series B
- Amount Raised: $30M
- Date: January 2017
- Lead Investors: Xianghe Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and enter new markets.
- Series C
- Amount Raised: $100M
- Date: October 2017
- Lead Investors: Shunwei Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand service offerings and enhance technology infrastructure.
- Series D
- Amount Raised: $300M
- Date: February 2019
- Lead Investors: Hillhouse Investment, HSG
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enter new international markets.
- Series E
- Amount Raised: $515M
- Date: December 2020
- Lead Investors: HSG
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand into smaller Chinese cities and enhance service capabilities.
- Series F
- Amount Raised: $1.5B
- Date: January 2021
- Lead Investors: Hillhouse Investment, HSG
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To solidify market leadership and invest in technology advancements.
Total Amount Raised: $2.4765B. Current Valuation: Not publicly disclosed.
Key Investors
- Hillhouse Investment
- Details: Hillhouse Investment is a leading investment management firm founded in 2005. It focuses on long-term value investing across various sectors.
- Investment Focus Areas: Technology, healthcare, consumer, industrial.
- Notable Investments: Tencent, JD.com, Meituan-Dianping.
- HSG
- Details: HSG is a prominent investment firm known for its strategic investments in high-growth companies. It has a strong presence in the Asian market.
- Investment Focus Areas: Technology, logistics, consumer services.
- Notable Investments: Not publicly disclosed.
- Shunwei Capital
- Details: Shunwei Capital is a venture capital firm co-founded by Lei Jun, the founder of Xiaomi. It specializes in early to growth-stage investments.
- Investment Focus Areas: Technology, internet, consumer services.
- Notable Investments: Xiaomi, Meituan-Dianping, NIO.
- Xianghe Capital
- Details: Xianghe Capital is a venture capital firm that focuses on early and growth-stage investments. It is known for its strategic investments in innovative companies.
- Investment Focus Areas: Technology, healthcare, consumer services.
- Notable Investments: Not publicly disclosed.
- MindWorks Capital
- Details: MindWorks Capital is a venture capital firm that invests in early and growth-stage technology companies. It has a strong focus on the Asian market.
- Investment Focus Areas: Technology, logistics, fintech.
- Notable Investments: Lalamove, KKday, Snapask.
What's Next for Lalamove?
As Lalamove looks to the future, the company is poised to capitalize on the vast opportunities available in smaller Chinese cities. With a recent $515 million Series E funding round, the potential for growth in these untapped markets is substantial. This expansion could significantly increase their market share and solidify their presence in the logistics industry.
Future fundraising opportunities seem promising, given the strong investor confidence demonstrated in the latest funding round. As Lalamove continues to grow, additional rounds of investment may be on the horizon to support further expansion and technological advancements.
However, the path forward is not without challenges. Lalamove will need to navigate intense competition in the logistics sector and address regulatory hurdles in various markets. Successfully managing these challenges will be crucial for sustaining their growth trajectory and achieving long-term success.
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