KUALA LUMPUR, April 2 (Bernama) — South East Asia logistics startup, TheLorry, has successfully raised US$5.85 million in its Series B Funding led by FirstFloor Capital with participation from PNB-INSPiRE Ethical Fund I, Cradle Seed Ventures, and Axiata Digital Innovation Fund. Existing investor, SPH Ventures, also participated in the round. The company intends to use the funds raised to strengthen its operations in Malaysia, Singapore, Thailand and Indonesia.
Founded in September 2014, TheLorry operates a logistics platform that connects both individuals and corporate clients to thousands of lorry, truck and van owners in their database across South East Asia. It was founded with the aim of utilising technology to make logistics more efficient and affordable. The platform provides transparent, secure and reliable house moving and furniture transport solutions to its individual clients. Apart from that, TheLorry also serves large multinational corporations in the Fast-Moving Consumer Goods (FMCG), Retail, Industrial, and e-commerce sectors with technology-enabled distribution and long haul transport solutions.
