Logistics startup Fr8Labs raises US$1.5 million seed round
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Benjamin Cher
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LOGISTICS startup Fr8Labs has snagged a US$1.5 million seed round from investors including venture capital firms East Ventures, FEBE Ventures and Seedstars.
Other investors include Venturra, Mulia Sky Capital, Kaya Founders and a number of angel investors.
“Our investment reflects our belief in their potential to streamline operations and bring a new level of efficiency to the industry in South-east Asia,” said Patricia Sosrodjojo, general partner at Seedstars International Ventures.
The startup provides solutions for freight forwarders to integrate processes, internal and external functions such as sales and operations as well as e-mail and chat platforms. Fr8Labs also built a generative artificial intelligence bot for customers to query or create new jobs via chat.
Fr8Labs currently has signed over 50 customers in Singapore, Malaysia, Indonesia, Taiwan and Australia. (see amendment note)
The funding will be used for further development of Fr8Labs products and expanding further into South-east Asia.
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“We aim to serve the entire Asean market first, before expanding wider in Asia as we progress,” said Glenn Lai, co-founder and chief executive officer, Fr8Labs.
Amendment note: This article previously stated that Fr8Labs had over 50 paying customers. The error has been fixed.
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