Start-up expands in Asia
The Singapore-based startup Pickupp raised USD 37 million in its series B funding round, closing its third fundraise in 13 months. The main investor was Jardine Matheson, a diversified Asian-based group with a broad portfolio of market-leading businesses.
Other investors were Reefknot Investments, Cathay Venture, P Chome Online, Drive Catalyst (the corporate venture arm of Far Eastern Group) and Swire Properties.
The funds will be invested in Pickupp's regional expansion in Asia, including its services and dispatch network in Singapore. Amongst others, the company will introduce ten new satellite warehouses across Singapore by mid-2022.
Founded in 2016, Pickupp specialises in pick up and drop services, micro-fulfilment, warehousing and cross-border services. Crystal Pang is the co-founder and CEO of Pickupp.
The company currently runs operations in Hong Kong, Singapore, Malaysia and Taiwan, with a delivery team of over 100,000 delivery agents across all cities. (sh)