Lalamove, the Hong Kong-based logistics on-demand deliveries service, has raised $30m in a series B round led by Beijing-based Xianghe Capital. Currently present in 50 cities in China and five cities across Southeast Asia, the company plans to expand to 60 more cities in the region by year-end. “There’s no line in the sand, but we’re in a financial position that we could list in two or two and a half years.” MD Blake Larson said the company is close to reaching profitability and could list within two to two and a half years. The startup was founded in 2014 with an initial funding of $700,000 from Chinese e-commerce giant Alibaba Group.
Lalamove, the Hong Kong-based logistics on-demand deliveries service, has raised $30m in a series B round led by Beijing-based Xianghe Capital. Currently present in 50 cities in China and five cities across Southeast Asia, the company plans to expand to 60 more cities in the region by year-end. MD Blake Larson said the company is close to reaching profitability and could list within two to two and a half years. The startup was founded in 2014 with an initial funding of $700,000 from Chinese e-commerce giant Alibaba Group.