Hong Kong-based logistics platform Gogovan raises US$250M to expand into new markets
Last August, the firm merged with 58 Suyun, a leading intra-city logistics company in Mainland China, and increased presence to over 300 cities
Hong Kong-headquartered mobile-based logistics platform Gogovan announced today that it has raised US$250 million in the first phase of its new round of funding, led by US-based VC firm InnoVision Capital.
Alibaba’s logistics arm Cainiao, Russia-China Investment Fund, Hongrun Capital, Qianhai Fund of Funds, and 58 Daojia Group also joined the round.
The company will use the funding to expand its service offerings and grow into new markets.
Established in 2013, the Gogovan platform connects individuals and businesses directly to thousands of drivers for their real-time delivery needs. Over the years, Gogovan has expanded its business from Hong Kong to Singapore, South Korea, Mainland China, Taiwan and India, and will continue to expand globally.
Since its launch, Gogovan has received funding from investors globally, including Centurion Private Equity, Renren , MFund, New Horizon Capital, Alibaba Entrepreneurs Fund, Singapore Press Holdings, and Hotung Investment Holdings.
In August 2017, the company merged with 58 Suyun, a leading intra-city logistics company in Mainland China, and increased Gogovan’s presence to over 300 cities.
“Since the merger, our business has been advancing rapidly. With the number of powerful investors on board in this round of funding, it shows that the market approves of our strategy. We will be using the new funds to expand our service offerings and grow new markets. In the next few months, we will offer door-to-door service to fulfill the demand of small-item segment. We strive to provide simplify logistics and delivery services,” said Steven LAM, CEO and Co-Founder of Gogovan.
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