Pickupp completes follow up Series A funding led by PChome, Cornerstone Ventures
Monday, July 05, 2021
(Digital News Asia by Staff Writer) – PICKUPP, the on-demand delivery and tech startup, announced it has raised approximately US$15 mil (RM62.3 mil) in Series A and Series A+ financing from regional investors, after its first investment round in November 2020.
In a statement, the startup said the series A+ round was led by Taiwan e-commerce giant, PChome and Cornerstone Ventures, with participation from existing investor, Swire Properties.
New investors, Cathay Venture Inc. and DRIVE Catalyst (the corporate venture arm of Far Eastern Group) from Taiwan and the Jardine Matheson Group and Zipx from Hong Kong also participated in this round, it added.
Funds from Pickupp’s Series A+ round will be used to accelerate new expansion in Taiwan and deepen its presence in key markets including Hong Kong, Singapore and Malaysia, the company said.
Citing figures from research firm Forrester, Pickupp online retail sales in Asia Pacific will grow from US$1.5 trillion in 2019 to US$2.5 trillion in 2024, with a compound annual growth rate (CAGR) of 11.3%.
