Lostistics company Lalamove raises 300 mln dollar for expansion
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E-mail Xinhua, February 21, 2019
SHENZHEN, Feb. 21 (Xinhua) -- On-demand delivery service provider Lalamove, known as Huolala in Chinese, said it raised 300 million U.S. dollars in Series D funds.
The latest round of funding was led by Hillhouse Capital Group and Sequoia Capital, the company said.
It will be used to boost the company's business expansion in the Chinese mainland, southeast Asia, and India, as well as in new businesses like car sales.
Founded in Hong Kong in 2013, the company matches users and drivers to provide same-day delivery and courier services. By January, it had 28 million users and 3 million drivers. Its business volume grew by nearly 200 percent in 2018.
Company statistics show it operates in 11 Asian cities outside the Chinese mainland. It is preparing to launch logistics services in New Delhi and Bangalore of India. Enditem
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