New Digital Logistics Platform Investments for Singapore
By Asia Investment Research
Following on as an addendum to our current issue of Asia Investment Research (last quarter inbound investments into Asia, US$250 here) we can add that Haulio Singapore has raised US$7 million in a Series A round led by Temasek’s Heliconia Capital, with new investors such as Ondine Capital and XA Network, and existing investors ComfordDelGro and PSA unboXed joining the round. According to data from VentureCap Insights, the US$7 million Series A round was raised at a valuation of US$20.5 million.
The Haulio platform connects last-mile container haulers with shippers and has transacted about 2.5 million twenty-foot equivalent units (TEU) since 2017, with over 50 percent of the TEUs transacted in 2021 alone. Haulio expects to triple its revenue numbers by the end of 2022 riding on the recovery of the global supply chain. Revenue numbers have grown from US$1.6 million in 2018 to US$4.1 million in 2019 to US$5.8 million in 2020.
A statement made said that “The founders’ deep understanding of this business should continue to help accelerate growth domestically and overseas”. The funds raised will be used to enhance service quality, product engineering and development, drive haulage capabilities, talent acquisition, and expand deeper into the region. Haulio recently opened a new office in Thailand in April 2021 and will be looking to expand into Indonesia, Malaysia, the Philippines, and Vietnam.
Singapore is a key logistics hub across many regional transport corridors and trade agreements. As the key logistics and financial services hub for ASEAN, it plays a key role in access to the ASEAN markets, especially the big six of Singapore combined with Indonesia, Malaysia, Philippines, Thailand, and Vietnam.
The ASEAN countries, which also include energy-rich Brunei, and smaller but growing markets Cambodia, Laos, and Myanmar, possess free trade agreements with both China and India, these are constantly evolving and changing to include a wider array of goods and services. In addition to this, ASEAN is a member of the Regional Economic Comprehensive Partnership (RCEP) free trade agreement, which commenced from January 1 this year and additionally includes Australia, New Zealand, China, Japan, and South Korea.
With supply chains shifting due to stresses caused by the Ukraine situation and the subsequent development of the Southern Belt and Road and INSTC transport corridors, companies such as Haulio, which can provide fast real-time solutions to the types of emerging container shortages caused by such disruptions should be well placed to take advantage of the shifting Singaporean trade dynamics.
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