Vietnamese logistics services provider Scommerce announced that it has raised an undisclosed amount of investment from Singapore state investment firm Temasek, DealStreetAsia reported. Scommerce said that the investment from Temasek was its largest financing to date.
Scommerce said it will use the funding to accelerate the nationwide expansion of its two units, Giaohangnhanh (GHN), the last-mile delivery unit established in 2012 under Scommerce, and AhaMove, an on-demand delivery service. It plans to improve its tech and automation platform.
Furthermore, with the new cash injection, its Ahamove arm will continue to invest in its four-hour and same-day delivery services, expand the coverage in suburban districts, and look at deeper integration with GHN’s existing infrastructure, according to Pham Huu Ngon, CEO and CTO of AhaMove.
Back in 2018, Scommerce had received an undisclosed sum from mid-market private equity firm Olympus Capital Asia.
Scommerce, who was founded by CEO Luong Dut Hoai, also runs a cross-border logistics business called Gido. As a whole, it is a minority-owned unit of new retail group Seedcom, which operates other businesses including F&B, farming, and business automation management.
Also Read: Temasek teams up with Swiss firm to launch a US$50M logistics fund in Singapore
The group was founded by Dinh Anh Huan, former co-founder of Mobile World, Vietnam’s electronics retailer, backed by Kuala Lumpur-based private equity firm Creador.
Earlier in September, Temasek also announced that it has launched a logistic tech-focussed fund in Singapore, collaborating with Kuehne + Nagel International (a Swiss transport and logistics company) through their joint venture Reefknot Investments.
In total, Reefknot Invetsments will have US$50 million global fund based in Singapore.
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