<article>Singapore-based logistics startup Haulio has raised a S$1 million ($747,000) seed funding round led by Singaporean port operator PSA&#8217;s corporate venture capital (VC) arm, PSA unboXed.</article>

Singapore-based logistics startup Haulio has raised a S$1 million ($747,000) seed funding round led by Singaporean port operator PSA&#8217;s corporate venture capital (VC) arm, PSA unboXed.
The round was joined by 500 Startups, NUS Enterprise, and several angel investors from the logistics industry, the startup said on its Facebook page.
PSA unboXed and NUS Enterprise have backed the startup in its S$75,000 ($55,882) pre-seed round.
Described often as the Uber for container trucks, Haulio connects users with haulage services providers in a manner similar to ride-hailing platforms. It claims to cut idle time for service providers and optimise their fleet management while offering users easy coordination and the ability to select providers based on past performance and user ratings.
&#8220;With our technology, Haulio will rewrite the rules of container haulage to ensure that every stakeholder stands to gain &#8211; hauliers, drivers, forwarders, cargo owners and port operators,&#8221; says the startup on its website.
Haulio&#8217;s co-founder and CEO Alvin Ea said: &#8220;We are solving a major problem in the industry &#8211; strain on infrastructure and insufficient facilities during peaks with underutilisation during lull periods.&#8221;
Since its launch last May, Haulio claims to have moved 35,000 twenty-foot equivalent units (TEUs) and registered 150 companies on its platform.
PSA unboXed was launched in May 2016 with a $14.65-million fund to invest in tech-based logistic startups. The VC arm also runs an incubation programme, where its port professionals and other business leaders provide mentoring.
&#8220;Haulio is in line with PSA&#8217;s vision for the container port of the future, a part of which is increased connectivity with the logistics and supply chain industry and greater productivity for all stakeholders involved,&#8221; commented PSA unboXed team lead Elton Fong.
The corporate VC arm of port operator PSA has backed other logistic startups in Southeast Asia and in the US, including Deliveree in Thailand, Hakovo in Singapore, and San Francisco-based ClearMetal. Singapore-based trade finance solutions startup Lucidity and fleet fatigue management software-as-a-service startup Subtle Safety are currently participating in PSA unboXed&#8217;s incubation programme.
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Haulio has raised a S$1 million ($747,000) seed funding round led by Singaporean port operator PSA’s corporate venture capital (VC) arm, PSA unboXed.

SG: PSA unboXed, 500 Startups back $747k seed round in logistics startup Haulio

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SG: PSA unboXed, 500 Startups back $747k seed round in logistics startup Haulio

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