Singapore’s Quest Ventures leads $7m Series A round in Moovaz

Photo from Moovaz's Facebook page

By Quynh Nguyen

April 27, 2020

Singapore-based logistics startup Moovaz has officially announced that Quest Ventures led its $7 million Series A round that it announced earlier.

According to an announcement, Quest Ventures’s latest fund participated in the Moovaz investment. The fund is backed by institutional investors that include the sovereign wealth funds of Singapore and Kazakhstan.

Founded in 2017 by Lee Junxian and Jerry Chua, Moovaz specialises in relocation, logistics, freight and also warehousing solutions.

Using smart technology and through its global network of over 2,000 certified partners, Moovaz is designed to offer customers an unprecedented level of transparency and open access to global mobility services worldwide.

Last month, the logistics startup said that it secured an undisclosed sum in a Series A funding round from Supply Chain Angels (SCAngels), the corporate venture arm of YCH Group.

In 2019, Moovaz secured an undisclosed amount of investment from Hustle Fund, a venture fund investing in early-stage startups in the US, Canada and Southeast Asia. Singapore government-owned firm SGInnovate also joined the round.

Quest Ventures is a Singapore-based venture fund for companies that have scalability and replicability in large internet communities.

Its portfolio of 50+ venture-backed companies operates in more than 150 cities across Asia, such as Carousell, ShopBack, 99.co, Carro, StyleTheory, SGAG/ MGAG/ PGAG, Glife, Xfers, and others.

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

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  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.
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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.
APPLY NOW