Logistics on-demand startup Lalamove raises $100M as it approaches a $1B valuation


Unicorns are like buses for Hong Kong. After living in the shadow of other cities and waiting around for its first, it now has (almost) two billion-dollar companies within months… and in the same space.

GoGoVan became the country’s first unicorn in September following a merger deal with China-based 58 Suyun, and now Lalamove — another Hong Kong company specializing in logistics on-demand in China and other parts of Asia — has snagged $100 million in new financing at a valuation that is just shy of the $1 billion mark.

Both Lalamove and GoGoVan both offer transportation and logistics services on-demand, very much in the same style that Uber works for passengers.

Typically aimed at business users, the services allow goods to be transported from A to B via trucks, vans,…

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