Singapore-headquartered logistics startup Janio has raised an investment of $8 million from fintech firm Choco Up to further its expansion plans.
Choco Up’s investment is part of a wider closed round bridge investment, which also includes funding from Singapore-based Innoven Capital and Janio’s existing shareholders, the company said in a statement released on July 8.
Founded in 2018, Janio is a cross-border platform that provides integrated, end-to-end e-commerce logistics solutions in Southeast Asia.
Janio’s solutions allow their clients across Asia – including Indonesia, Malaysia, Taiwan, Mainland China, and Thailand – greater control over the supply chain and help streamline logistic-related paperwork using technology.
With the e-commerce industry boom in the aftermath of the COVID-19 pandemic, Choco-Up’s investment will allow Janio to boost its growth to meet rising industry demands.
The investment will also enable Janio to increase its working capital, allowing the company to carry out expansion plans and take on new emerging markets and clients without grappling with cash-flow issues.
Janio is backed by Sequoia Capital and Singapore-based Vertex Ventures and Insignia Venture Partners and Vietnam-based FEBE Ventures.
“E-commerce is at an all-time high and it’s a very good time for Janio to carry out expansion plans to secure their presence in the region as the leading provider of logistic infrastructure that helps businesses scale their operations quickly and reliably,” said Percy Hung, Co-founder and CEO of Choco Up. “They already have strong investors behind them and we expect a very exciting and flourishing future for Janio in Asia and beyond.”
“Choco Up’s backing and their fast-track funding system will provide us the quick capital necessary to carry out expansion plans with peace of mind at this pivotal time for the industry,” said Junkai Ng, CEO and co-founder of Janio.
Founded in 2018, Choco Up is an advanced data-driven fintech platform that leverages data analytics and vast integration to automate growth fund deployment and risk management. It has a presence in Hong Kong and Singapore.
Choco Up invests in rapidly scaling companies with domain expertise, established products, and proven demand, providing them with recurring access to growth capital without equity dilution.