The pre-Series A investment round, which BBTruck, a Taiwanese smart logistics company, said will raise $6 million to support the company’s global market expansion.
Oasis Venture, H2U Corp, and Starworks Entrepreneurial Venture Capital co-anchored the round, which raises the startup’s total fundraising to $6.5 million, according to the statement.
BBTruck is a 2019 startup that provides a B2B supply chain logistics platform with accurate capacity allocation and calculation. Top-tier businesses in technology, healthcare, international logistics, and retail have benefited from its services.
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According to the company, its platform automatically selects the best available transport fleet, optimizing the use of logistical resources, reducing the cost of empty trucks by almost 75%, and increasing the effectiveness of order placement and cargo tracking by more than 40%.
According to BBTruck, the additional funds will be used to quicken the company’s market expansion, with a focus on Southeast Asia, which includes Vietnam, Malaysia, Singapore, Thailand, and Indonesia, and North America. It also wants to hire additional experts and enhance its product development.
“This funding will enable us to enhance our technology offerings and expand our presence in key markets, allowing us to better serve our clients and fully transform the logistics industry,” said BBTruck CEO and co-founder Steven Chou.
The funding for BBTruck coincides with Taiwan’s logistics industry’s inefficiencies stemming from a reliance on phone orders and manual processes, which frequently result in pointless repeat trips.
According to the company, their transparent logistics management platform aims to close this gap.
The cash was also provided at a time when Greater China’s startup financing saw a 41% YoY fall in June due to investor apathy, geopolitical tensions, and macroeconomic uncertainty.
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According to exclusive data compiled, privately held companies with headquarters in mainland China, Hong Kong, Macau, and Taiwan raised approximately $2.8 billion through the completion of 157 deals in June 2024, as opposed to $4.8 billion across 231 transactions in the same period last year.
About BBTruck
BBTruck provides B2B smart logistics via SaaS. BBTruck’s sophisticated logistics-capacity matching technology uses idle capacity to increase service efficiency for commercial trucks. BBTruck API integration lets businesses access a vast network of domestic and international shipping providers at competitive prices.
