<article>South East Asian logistics startup TheLorry has raised $5.85 million in a Series B funding led by Malaysia-based FirstFloor Capital, according to a press release.
PNB-INSPiRE Ethical Fund I, Cradle Seed Ventures, Axiata Digital Innovation Fund and existing investor, SPH Ventures, also participated in the round.</article>

South East Asian logistics startup TheLorry has raised $5.85 million in a Series B funding led by Malaysia-based FirstFloor Capital, according to a press release.
PNB-INSPiRE Ethical Fund I, Cradle Seed Ventures, Axiata Digital Innovation Fund and existing investor, SPH Ventures, also participated in the round.
Founded in September 2014, TheLorry operates a logistics platform that connects both individuals and corporate clients to thousands of lorry, truck and van owners in their database across South East Asia.
The platform claims to provide transparent, secure and reliable house moving and furniture transport solutions to its individual clients. In addition, TheLorry also serves large multinational corporations in the FMCG, retail, industrial, and e-commerce sectors with technology-enabled distribution and long haul transport solutions.
The company plans to use the funds raised to strengthen its operations in Malaysia, Singapore, Thailand and Indonesia. The startup, which raised its Series A round, says it is profitable in Malaysia and Singapore. The startup expanded to Thailand and Indonesia in 2018.
“With the optimisation done through our technology, we are reducing underutilised capacity and in turn, improving efficiency of our drivers. We are already seeing results of cost savings being delivered to our customers,” said co-founder and managing director, Goh Chee Hau.
FirstFloor Capital is a venture investment firm that invests in high-growth technology companies in industries serving information technology, mobility, communications, and life sciences. The firm focuses on companies with unique competitive advantages, sustainable value propositions, and strong management teams.
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Logistics startup TheLorry snags $5.85m Series B led by Malaysia's FirstFloor Capital

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Logistics startup TheLorry snags $5.85m Series B led by Malaysia's FirstFloor Capital

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