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GoGoVan bags Series C funding from New Horizon Capital, SPH, Alibaba fund

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GoGoVan, a Hong Kong-based, on-demand delivery van startup backed by Singapore-based Centurion Private Equity, said on Thursday it has raised Series C funding.

GOGOVAN, a Hong Kong-based, on-demand delivery van startup backed by Singapore-based Centurion Private Equity, said on Thursday it has raised Series C funding.

The new capital - the amount of which is undisclosed - is led by private equity firm New Horizon Capital, with participation from Singapore Press Holdings (SPH), Alibaba Hong Kong Entrepreneurs Fund, Hotung Investment Holdings, as well as existing investors.

GoGoVan will use the funding to further develop "business-centric products" and towards "advancing engineering capabilities".

"With this funding, we plan to further improve our product offerings to service diversified business logistics needs, from individual online retailers to multi-nationals who are demanding logistics solutions," said Steven Lam, CEO of GoGoVan.

He added: "Our mission is to optimise logistics cost by providing innovative and cutting edge technology; by deploying big data logistics analytics to all aspects of the delivery value chain. We want to create a new business model - LaaS (Logistics As A Service) for the logistics industry."