• Hong Kong's GoGoVan raises $250M from investors including Alibaba's logistics subsidiary

    1 month ago - By Tech Crunch

    Logistics on-demand service GoGoVan became Hong Kong's first billion-dollar startup via a merger last year, and now is doubling down on growth after raising $250 million in new capital.
    The new round was led by InnoVision Capital, with participation from the Russia-China Investment Fund, Hongrun Capital and Qianhai Fund of Funds. Two other notable investors include Alibaba's Cainiao logistics subsidiary - Alibaba is already an investor via its Hong Kong entrepreneurship fund - and 58 Daojia Group, the parent of the '58 Suyun' business that merged with GoGoVan.
    There's more capital coming...
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