Container haulage startup Haulio has raised S$1 million in seed round investment, according to a press release. The round was led by PSA unboXed and participated in by 500 Startups, NUS Enterprise, and several logistics industry angel investors. The funding comes after a S$75,000 pre-seed funding from PSA unboXed and 500 Startups.
Founded in December 2016, Haulio has over 200 companies onboard their platform, which allows for over 80 hauliers and over 100 freight forwarders to optimise and share their resources. The startups will use funds for rapid scaling of business and targets.
“Haulio is in line with PSA’s vision for the container port of the future, a part of which is increased connectivity with the logistics and supply chain industry and greater productivity for all stakeholders involved,” said Elton Fong, Team Lead of PSA unboXed.
Additionally, 500 Startups Managing Partner Khailee Ng expressed positive sentiments about Haulio’s potential. “Having invested in over 20 international markets, we’ve seen how simple ideas can catch fire and spread globally, fast. We saw this in investments like Grab. When we met Haulio, we knew, this is it.”
Haulio brings a fleet of over 1,000 trucks to their platform and has over half a million tonnes of cargoe since their launch in May 2017.
Google brings Demo Day to Asia – [TechCrunch]
Internet giant Google is bringing its Demo Day event to Asia this September, according to this article by TechCrunch.
Google selects promising startups and provides them mentoring and coaching to perfect pitch that they will deliver to VCs and other attendees from Google’s entrepreneurship network on a demo day. While events have been held in North America and Europe, this September’s Demo Day in Shanghai, China will be the first in Asia.
This announcement comes after Google began increasing it’s presence in the region with a partnership with Tencent, opening an AI lab in Beijing, and making direct investments in Asia-based startups.
SoftBank to sell Flipkart stake to Walmart – [Reuters]
SoftBank Group is selling it’s Flipkart stake to Walmart, according to this report by Reuters. The Japanese tech and investment giant owns roughly 20 per cent of Flipkart shares and there is uncertainty on whether SoftBank would remain a shareholder.
SoftBank did not comment on its reason for selling its Flipkart stake.
Paytm acquires TicketNew for US$40M – [Tech News]
India-based online payments company Paytm has acquired local online ticketing platform TicketNew from Alibaba Pictures Group for US$40 million.
Founded in 2007, TicketNew claims to be India’s second-largest online ticketing platform with presence in over 300 cities.
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