Loship will use the investment to expand its delivery network, human resource, technology and market. (Photo tvphapluat.vn) Hanoi (VNS/VNA) - Loship, Vietnam’s fast-growing one-hour-delivery e-commerce startup, has announced its latest investment from Skype co-founder Jaan Tallinn.
Tallinn participated in Loship’s Series C funding through his investment vehicle MetaPlanet Holdings.
This capital injection marks Loship as the first portfolio company of MetaPlanet in Vietnam and Southeast Asia. The investment comes four months after the startup secured capital in a bridge round led by Vulpes Investment Management.
According to Loship CEO Nguyen Hoang Trung, the fresh capital will be spent on expanding the firm’s delivery network, human resources, technology and market.
“A huge portion of the funding will be poured into upgrading our app and developing technologies in Loship,” Trung said, adding that they will also ramp up their marketing strategies to cement Loship’s presence in the domestic market.
“It didn’t take me very long to realize Loship was on to something,” Loship quoted Tallinn as saying in its announcement.
“MetaPlanet is planning to pay more attention to the rapidly growing economies in Southeast Asia. So I’m delighted to be off to a strong start in Vietnam by adding Loship as our first portfolio company there.”
Founded in 2017, Loship traces its roots back to Lozi, a review app allowing users to find food, beverage, and coffee shops, before transitioning into a one-hour-delivery services platform.
Loship has closed its series A and B rounds from investors such as the Republic of Korea’s Smilegate Investment, Hana Financial Group, DTNI, and Golden Gate Ventures./.
Tallinn participated in Loship’s Series C funding through his investment vehicle MetaPlanet Holdings.
This capital injection marks Loship as the first portfolio company of MetaPlanet in Vietnam and Southeast Asia. The investment comes four months after the startup secured capital in a bridge round led by Vulpes Investment Management.
According to Loship CEO Nguyen Hoang Trung, the fresh capital will be spent on expanding the firm’s delivery network, human resources, technology and market.
“A huge portion of the funding will be poured into upgrading our app and developing technologies in Loship,” Trung said, adding that they will also ramp up their marketing strategies to cement Loship’s presence in the domestic market.
“It didn’t take me very long to realize Loship was on to something,” Loship quoted Tallinn as saying in its announcement.
“MetaPlanet is planning to pay more attention to the rapidly growing economies in Southeast Asia. So I’m delighted to be off to a strong start in Vietnam by adding Loship as our first portfolio company there.”
Founded in 2017, Loship traces its roots back to Lozi, a review app allowing users to find food, beverage, and coffee shops, before transitioning into a one-hour-delivery services platform.
Loship has closed its series A and B rounds from investors such as the Republic of Korea’s Smilegate Investment, Hana Financial Group, DTNI, and Golden Gate Ventures./.
VNA
