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Hong Kong’s Latest Unicorn: Logistics Startup Lalamove

By Isabelle Li / Feb 21, 2019 03:57 PM / Business & Tech

Photo: VCG

Photo: VCG

Hong Kong-based logistics startup Lalamove, backed by Chinese mainland investors including Xiaomi founder Lei Jun, has closed a D round of funding worth $300 million, TechCrunch reported.

The round reportedly included investors Hillhouse Capital and Sequoia China.

Total valuation for the company wasn’t given, but international head Blake Larson said it has been “past unicorn mark for quite some time [but] we just don’t talk about it,” according to the report.

Lalamove was founded in 2013 by Stanford graduate Shing Chow, and provides ride-hailing-style logistics services, but mainly for corporate clients instead of individual consumers. Its services now cover over 130 cities in Asia with more than two million drivers of vans, cars and motorbikes.

Related: AI Unicorn Wades Into Smart Logistics With 2 Billion Yuan ‘River Map’

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