PICKUPP, an Asian tech startup redefining logistics has raised US$52mil through three rounds of funding processes in less than 13 months.
The three funding processes started in November 2020 and ended July this year. It was aimed at expanding the company’s presence in the Southeast Asia markets, including Malaysia.
In addition, the firm would also strengthen its regional logistics network infrastructure, placing Pickupp in a stronger position to drive future development in Quick commerce and ecommerce.
Pickupp co-founder and CEO, Crystal Pang commented: “This round of funding is a major milestone for the Malaysian market and we are pleased to have strong support from investors across the Southeast Asia region.
“We are seeing tremendous strategic growth across industries, as businesses in Malaysia are embracing and exploring an innovative e-commerce model.”
As such, Pang opined that the services sector remained as a key driver of growth in the country’s e-commerce income which rose to 17.1% in Q3.
“The Malaysian’s logistics industry contributed 3.8% to its gross domestic product (GDP) and is looking to realise untapped potential with the aim to raise its GDP contribution to 6.5% by 2030.” she added.
Effective delivery, minimum cost
With its tech-driven customer-centric solutions, Pickupp’s reliable and flexible delivery services to shops and customers in Malaysia might be vital to harnessing this potential.
On that note, Pickupp co-chief operations officer Calvin Ma said that he is looking at creating an ecosystem for small and medium enterprises (SME) and individuals, where satellite warehouses will be utilised to develop a network of conveniently accessible pick-up and drop-off (PUDO) sites.
Hence, the company is working closely with Kirimman and ParcelHub for the said purpose.
“Customers are looking for a more personalised and flexible logistics service, not only last-mile deliveries but next day deliveries with no minimum order, at affordable rates where customers and small businesses can enjoy a wider range of options.”
“We have taken a similar approach to warehousing, as we do to our delivery agents – we leverage existing, available resources rather than invest in developing new ones.
“With this efficient approach using resources and idle capacity in the market, we are planning to make Pickupp the leading logistic network in Malaysia,” Ma added.
To date, Pickupp has worked with more than 23,000 active Malaysian merchants, as well as more than 26,000 delivery agents onboard across Malaysia. – Dec 19, 2021
