Existing investors such as Xiang He Capital and MindWorks Ventures also participated in the latest round for Lalamove

Same-day delivery and logistics provider Lalamove today announced that it has raised a US$100 million Series C funding round led by ShunWei Capital, a China-based venture capital firm founded by Xiaomi founder Lei Jun and Tuck Lye Koh that invests in growth stage startups.

Several existing investors, such as Xiang He Capital and MindWorks Ventures, also participated in the current round.

Lalamove implements the concept of sharing economy by providing web- and mobile-based technology to enable same-day delivery services for small- and medium-sized enterprises (SMEs).

By July, Lalamove’s service is already available in 100 cities in Southeast Asia and China. It claims to have “over” 15 million users and two million drivers on-board.

The company wants to use the new funding to fuel expansion across China and Southeast Asia.

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“After our Series B, we set out an ambitious goal to achieve leading delivery coverage across Asia and we’ve managed to exceed our expectations. We will continue to quickly expand into cities where we feel we can provide the simplest and fastest delivery service in the market,” said Lalamove Founder and CEO Shing Chow in a press statement.

It will also allocate funding for talent and product development. It gave an example of the company’s new API integration service that can help SMEs leverage Lalamove’s technology through their own business services.

Asia has been seeing a wave of investments in the logistics sector recently, as an industry that directly supports the growth of e-commerce industry in the region. The latest funding round being a US$14.5 million Series A for Bangkok-based Deliveree.

ShunWei Capital Partner Cheng Tian stated that the firm foresee a strong growth in the last-mile delivery sector, and that it has been reflected in the growth and performance of Lalamove.

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Image Credit: Lalamove

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