Ezyhaul, a Singapore headquartered logtech (logistics-tech) startup, has just announced that it has raised S$1.2 million in seed funding from a group of undisclosed logistics industry leaders.
Founded in Singapore in April 2016, Ezyhaul aims to address the inefficiencies that have emerged in the $27 billion-worth road freight industry in Southeast Asia. Using an “Uber-like technology platform”, the startup provides a free-to-use service for shippers to connect with transportation companies and make bookings for domestic and cross-border transportation services.
It also provides its users a real-time tracking system for their dispatches, and access to electronic documentation and e-PODs (proof of delivery). Not just for shippers – transportation companies on the Ezyhaul platform would also benefit from the maximisation of utility for their fleet of vehicles, reducing the occurrence of empty backhauls.
The SGD$1.2 million seed investment will fuel product development, growth within Ezyhaul’s launch market Malaysia, and allow expansion to other key markets in Southeast Asia.
Said co-founder and CEO Raymond Gillon, “Since our launch we see 80% month-over- month volume growth supported by an experienced team located in offices in Kuala Lumpur, Penang and Johor Bahru. We are currently opening offices in two additional key markets in South East Asia where we will be launching early 2017.”
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