<article>Hong Kong-based on-demand logistics startup <a href="https://www.dealstreetasia.com/tag/Lalamove/">Lalamove</a> on Thursday announced that it has raised a $300-million Series D funding round in two tranches.</article>

Hong Kong-based on-demand logistics startup <a href="https://www.dealstreetasia.com/tag/Lalamove/">Lalamove</a> on Thursday announced that it has raised a $300-million Series D funding round in two tranches.
The company said its D1 round was led by <a href="https://www.dealstreetasia.com/tag/Hillhouse-Capital">Hillhouse Capital</a>, while the D2 round was led by <a href="https://www.dealstreetasia.com/tag/Sequoia-China/">Sequoia China</a>.
Other investors that joined the round include Eastern Bell Venture Capital, PV Capital and existing investors including Shunwei Capital, Xiang He Capital and MindWorks Ventures.
According to TechCrunch, the financing valued the company at over $1 billion, making it the latest Asian startup to enter the unicorn club.
The fresh capital will be used by Lalamove to strengthen its technological and innovation capabilities in China and Southeast Asia, expand its presence in India and enter new businesses such as car sales.
Founded in 2013, Lalamove matches drivers with customers via its website and mobile app to fulfil same-day deliveries. The company claims to currently operate in 11 cities in Asia outside China, matching around 15 million registered customers with a pool of 2 million drivers of vans, trucks and motorcycles.
The company raised a $30-million Series B round in early 2017, before securing a Series C funding round of $100 million at the end of the same year. The round was led by China-based growth stage investor Shunwei Capital.
For Sequoia and Hillhouse, the investment in Lalamove counts as the second co-investment by the two investors this year. Last month, the two investment firms had participated in a $110-million Series C round for India-based online auto classifieds portal CarDekho.
Also Read:
<a style="color: #ff0000;" href="https://www.dealstreetasia.com/stories/china-shunwei-capital-leads-100m-series-c-lalamove-83957/">China: ShunWei Capital leads $100m Series C in HK-based logistics startup Lalamove</a>
<a style="color: #ff0000;" href="https://www.dealstreetasia.com/stories/sequoia-china-co-leads-32m-series-a-round-in-australian-lidar-developer-baraja-116016/">Sequoia China co-leads $32m Series A round in Australian LiDAR developer Baraja</a>
<a style="color: #ff0000;" href="https://www.dealstreetasia.com/stories/cardekho-sequoia-hillhouse-115878/">India’s CarDekho raises $110m funding from Sequoia, Hillhouse, others</a>

HK-based logistics startup Lalamove snags $300m Series D for Asia expansion

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HK-based logistics startup Lalamove snags $300m Series D for Asia expansion

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