Ezyhaul raises $16m Series B to fund expansion to Indonesia and Philippines expansion
Ezyhaul co-founders (L-R) Nicky Lim, Raymond Gillon and Mudasar Mohamed
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Singapore-headquartered freight and logistics startup Ezyhaul announced on Wednesday that it has closed a $16 million Series B round to fund its expansion into Indonesia and the Philippines.
The fresh capital will also be used to further drive Ezyhaul’s technological innovation to offer a complete “plug and play” model for its clients.
Ezyhaul’s co-founder and CEO Raymond Gillon told DealStreetAsia that he expects to start operating in both Indonesia and the Philippines by end of this year.
Founded in Singapore by Gillon, Mudasar Mohamed, and Nicky Lum, Ezyhaul first launched its services in Malaysia in 2016 where its core technology and product development teams are based.
The startup has been growing 900 per cent in revenue since the close of its $5-million Series A round in 2018.
The capital from its Series A round was used to reinforce its presence in Malaysia and expand its operations to Thailand and India, as well as integrating a cross-border solution that currently stretches from China to Singapore.
The startup declined to disclose its current investor base but a report by The Star had said Ezyhaul’s seed round, which closed in 2017, was funded by private investors from the US, Singapore, and Australia.
Gillon added Ezyhaul’s current fleet consists of more than 8,000 trucks and transporters and “is still rapidly growing”. “On the back of our expansion and growth in current markets, we expect to double this number over the next 12 months.”
Last year, Ezyhaul’s platform managed more than 50 million kg of freight across Singapore, India, Malaysia and Thailand. Its client base includes Coca Cola, Reliance Industries, On-Semi, Flipkart, DHL, and DB Schenker.
Unlike other existing players who are also in Southeast Asia such as Lalamove and GOGOVAN, Ezyhaul said its focus is on transportation in the B2B space.
Ezyhaul’s platform includes dynamic route optimisation technology that builds efficient delivery routes, vehicle utilisation, and minimises total transportation costs – measures that help reduce shipping costs for clients.
The platform also provides real-time track and trace visibility, access to online documentation, invoicing, and proof of delivery (POD). It recently launched a control tower that monitors truck movements, provides intelligent exception alerts and predicts estimated time of arrival for shipments.