Haulio raises S$1 million in seed funding round investment
Home-grown container haulage Haulio raised S$1 million in seed round investment together with 500 Startups and several logistics industry angel investors.
May 24, 2018
By Ang Yi An
Air & Cargo Services air cargo Air Cargo Asia air cargo freight Air Forwarding air freight Air Freight Asia Air Freight Logistics air freighter air freighting Air Logistics Asia Air Shipping Asia airlines cargo airways cargo asia cargo news cargo aviation Haulio NUS Enterprise PSA unboXed
Singapore’s home-grown container haulage start-up Haulio has raised S$1 million in seed round investment, led by PSA unboXed together with 500 Startups, NUS Enterprise and several logistics industry angel investors in May 2018. This seed funding comes after their previous pre-seed round of S$75,000 from returning investors PSA unboxed and NUS Enterprise, which is the sole prior funding round raised by Haulio.
Haulio which was previously incubated by PSA unboXed, will be using this fresh injection of funds for rapid scaling of the business and targets, with the capturing of the local market in sight, as the start-up aims to unite a traditionally fragmented shipping and logistics industry. Founded in December 2016 by Alvin Ea and Sebastian Shen, Haulio is a centralised, collaborative platform designed for the container haulage industry to optimise and share their resources in preparation for Industry 4.0. The B2B platform rethinks the way containers are moved and aims to be the most reliable and efficient way to ship a container on land.
Currently Haulio has over 200 companies onboard the platform, with over 80 hauliers and over 100 freight forwarders and end customers. They bring over a fleet of more than 1,000 trucks to the platform, having moved over 35,000 TEUs equivalent to over half a million tonnes of cargoes since their launch in May 2017 and an average of 200 containers daily for their users to date.
Singapore’s shipping and logistics industry is ranked by the World Bank as Asia’s top logistics hub for a decade now and is expected to create S$4.5 billion in value add for Singapore by 2025. As such, digitalization brought in by companies like Haulio is necessary to cement the success of Singapore’s logistics sector.