Deliveree, a Bangkok-based on-demand delivery mobile application, has diversified to become a marketplace, raising Series A funding of US$14.5 million (482 million baht).
The new funding will be used to fuel Deliveree's growth as Southeast Asia's leading ground logistics marketplace and to expand its logistics technology solutions to businesses.
Led by Gobi Partners, the Series A round had participation from PSA Unboxed, Asia Summit Capital and Inspire Ventures. The Series A investors join founding investors Inspire Ventures and Ardent Capital.
"The shift to marketplace solutions is progressing rapidly across key logistics areas," said Tom Kim, chief executive and co-founder of Deliveree.
This is acutely true for intra-city movements of cargo and goods. Deliveree's marketplace of 15,000 trucks, vans, pickups and economy vehicles across Southeast Asia are servicing thousands of customers daily, including large corporations, big brands and logistics companies, he said.
Launched in 2015, Deliveree serves the metropolitan areas of Bangkok, Jakarta and Manila.
Its mobile and web app platform provides companies with access to thousands of qualified drivers of commercial vehicles on a pay-as-you-go basis, which reduces ground transport costs by as much as 50%. The company earns commission from its drivers.
Deliveree Thailand country director Chanisa Rueangkirianya said 2017 has seen breakthroughs for Deliveree in all three metro areas.
Ms Chanisa said the company expects the booking volumes and fleet size in Bangkok to double from last year because of its innovative services.
"We are the first and only logistics tech company here to make large six-wheel commercial trucks available on the platform," she said. The company is also preparing to expand to new countries and cities in Southeast Asia.
Commenting on Gobi's investment in Deliveree, partner Kay-Mok Ku said Gobi was delighted to lead Deliveree's Series A funding.
On the heels of its successful investment in GoGoVan, Southeast Asian businesses will increasingly adopt similar marketplace technologies to solve challenging old-world logistics problems.
"Over the past few years, there has been a substantial investment in small-parcel, last-mile consumer logistics due to the rise of e-commerce in Southeast Asia," said Gagan Singh, Deliveree's chief financial officer. "However, this space suffers from poor operating economics."
Deliveree is solving the cargo and bulk goods challenges faced by businesses with its marketplace technology, Mr Singh said.
