<article>Singapore-based logistics startup CarPal has raised S$3.83 million ($2.75 million) in a round led by new private equity (PE) participants and existing backer RB Investments.</article>

Singapore-based logistics startup CarPal has raised S$3.83 million ($2.75 million) in a round led by new private equity (PE) participants and existing backer RB Investments.
The latest investments follow a S$1 million ($717,308) pre-Series A round raised from RB Investments in January 2016.
The company said it plans to use the latest round to expand into new markets and segments in Southeast Asia and to grow its sales and R&amp;D teams. 
Launched in July 2014, CarPal provides on-demand logistics services based on the sharing economy concept. Its current fleet of over 10,000 drivers and vehicles serves consumers as well as businesses, including (full-service) logistics providers, parcel delivery and food delivery services.
The company said, the latest investment will help further develop its recently launched enterprise-facing SaaS delivery management platform, CarPal Fleet, which allows businesses to build their own delivery fleet consisting of in-house and third-party drivers. 
<a style="color: #000080;" href="http://linkedin.com/in/maartenhemmes" target="_blank" rel="noopener noreferrer">Maarten Hemmes</a>, founder and CEO of CarPal, said, “Over the past few years, we learned that many of our customers wish to build their own fleet of drivers. This is mainly due to specific requirements or SOP. Hence launching a product to give customers full control over the delivery operations made a lot of sense.”
CarPal lists Oddle, Cat and the Fiddle, Lady M and SaladStop among its customers. Bringg and Onfleet are the other prominent players in the logistics management space and CarPal&#8217;s competitors.
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CarPal has raised S$3.83 million ($2.75 million) in a round led by new private equity (PE) participants and existing backer RB Investments.

Singapore: Logistics startup CarPal raises $2.75m

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Singapore: Logistics startup CarPal raises $2.75m

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