[Funding alert] Logistics tech startup Ezyhaul raises $16M in Series B round to grow its presence in South Asia
Ezyhaul, a Singapore-headquartered logistics tech startup, has raised $16 million in Series B funding from an undisclosed set of high-net worth investors and institutions. The startup is looking to expand to new markets in South Asia, and also drive further technological innovation to offer a complete plug-and-play model for its clients through its online platform.
Founded in April 2016 by Mudasar Mohamed, Raymond Gillon, and Nicky Lum Ezyhaul, Ezyhaul is focused on improving efficiencies in the highly fragmented $150 billion road freight industry in South Asia. The startup uses advanced technology to efficiently connect businesses in need of transportation services with pre-qualified transporters in the highly fragmented road freight market in South Asia.
Nicky Lum, Raymond Gillon, and Mudasar Mohamed of Ezyhaul
Ezyhaul provides a range of online logistics services and technology solutions that offer mid-sized and larger businesses, as well as logistics service providers a quick, efficient, reliable, and cost-effective way to manage their domestic and cross-border transportation needs.
In the past 12 months, Ezyhaul has grown more than 900 percent after successfully completing its $5 million Series-A fundraise in 2018. It has since reinforced its presence in South Asia, including expanding its operations in India and Thailand, and integrated a cross-border solution that currently stretches from China to Singapore.
In a statement, COO and Co-founder Mudasar Mohamed, said, “Businesses spend a lot of money and time as a result of unpredictable and unreliable freight movements. The Ezyhaul platform empowers our clients with choice of carriers, scale, and operational intelligence to achieve improved logistics performance and reduced costs.”
Having a presence in India, Singapore, Malaysia and Thailand, Ezyhaul has facilitated the transport of more than 50 million kg of freight in 2018 alone. Today, the startup counts several companies such as Coca Cola, Reliance Industries, Exide Industries, HIL, DHL and DB Schenker as its clients.
Ezyhaul’s platform allows clients to make easy online bookings for domestic and cross-border transportation services. Transportation companies use Ezyhaul’s app to accept shipments, maximise their vehicle utilisation, and reduce empty backhauls. The startup is building an ecosystem to support its transport partners by running their business and improving the quality of the lives of the drivers.
The startup states that its platform includes an integrated dynamic route optimisation technology to improve the revenue derived per vehicle for transporters, while reducing the cost of shipping for clients. The platform also provides real-time track and trace visibility and access to electronic documentation, invoicing and e-PODs (proof of delivery).
Further, clients have access to online reporting and advanced analytics to get detailed insight in their logistics performance.
The three-year-old startup plans to expand to new markets in South Asia, replicating the successful launch in Malaysia, Singapore, India (Mulura Logistics Pvt. Ltd), and Thailand.
(Edited by Evelyn Ratnakumar)