'Uber of logistics' Lalamove raises another US$10 million as Hong Kong start-up targets 12 more cities in China

Hong Kong-based start-up Lalamove, described by some media as the "Uber for logistics", has raised another US$10 million in funding as it attempts to grow its foothold in mainland China, it said on Tuesday.

The on-demand delivery service connects drivers of vans with potential customers in need of moving or delivery services. It operates in Hong Kong as EasyVan, mainland China as Huolala, and Taiwan, Thailand and Singapore as Lalamove.

The company will use the money, which follows another US$10 million raised earlier this year, to expand into 12 more cities in China, on top of the four it currently operates in.

Its move to penetrate the Chinese provinces of Fujian, Anhui, Guangdong, Sichuan, Zhejiang, Shandong and Hubei is set to be fully operational within the next three months, starting with Shanghai and Chongqing this week, it said.

“While very few startups thrive in both South East Asia and China markets, we are thrilled to show such growth in the past 18 months,” said Lalamove’s CEO and founder Shing Chow.

“This continuous success validates our hypothesis - delivery as it exists in Asia isn’t optimal, and bringing technology to this ageing industry reduces drivers’ idle time, increases speed and efficiency while lowering costs.”