Haulio raises US$7m in Series A round led by Temasek's Heliconia

HAULIO has raised US$7 million in a Series A round led by Temasek's Heliconia Capital, with new investors such as Ondine Capital and XA Network, and existing investors ComfordDelGro and PSA unboXed joining the round.

According to data from VentureCap Insights, the US$7 million Series A round was raised at a valuation of US$20.5 million.

The haulage platform which connects last-mile container haulers with shippers has transacted about 2.5 million twenty-foot equivalent units (TEU) since 2017, with over 50 per cent of the TEUs transacted in 2021 alone.

Haulio expects to triple their revenue numbers by the end of 2022 riding on the recovery of the global supply chain. Revenue numbers have grown from US$1.6 million in 2018 to US$4.1 million in 2019 to US$5.8 million in 2020.

"The founders' deep understanding of this business should continue to help accelerate growth domestically and overseas," said Derek Lau, chief executive at Heliconia.

The funds raised will be used to enhance service quality, product engineering and development, drive haulage capabilities, talent acquisition and expand deeper into the region. Haulio recently opened a new office in Thailand in April 2021 and will be looking to expand into Indonesia, Malaysia, the Philippines and Vietnam.

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"This investment will accelerate our regional growth and the transition of haulage standards from offline to online, as we remain steadfast in our vision to haul all containers in and out of South-east Asia through our platform," said Alvin Ea, chief executive and co-founder of Haulio.

Read more:

• Funding Societies partners Haulio to provide ready credit to hauliers

• Logistics tech firm Haulio seals undisclosed pre-Series A round, eyes regional expansion