# HK PICK-UP

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/hk-pick-up

- Industry: Software
- Headquarters: Hong Kong, Hong Kong SAR - China
- Website: www.hk.pickupp.io
- Total disclosed funding: $72M
- Latest round: Series B (Dec 8, 2021)
- Investors on record: 15

## About

HK PICK-UP Limited is a logistics provider based in Hong Kong, specializing in delivery solutions that connect businesses with independent couriers through an efficient digital platform.Founded in 2016 and headquartered in Hong Kong, HK PICK-UP Limited offers a platform for logistics and delivery services. The company has completed 7 deals, with its latest funding round occurring on December 8, 2021, where it raised USD 37.00 mn in Series B funding led by Jardine Matheson Holdings. The founding team includes Crystal Pang as CEO and Lee Chee Meng as co-COO, both instrumental in steering the company’s direction since its inception. There are no records of significant pivots in business strategy or changes in operations since its founding.HK PICK-UP Limited specializes in logistics and delivery solutions, connecting businesses requiring transportation services with a network of independent couriers. Their core offering is a digital logistics management system for same-day and next-day deliveries, designed to enhance last-mile efficiency. Serving urban centers in Asia, particularly in high-demand areas of Southeast Asia, the platform caters to e-commerce retailers, food service providers, and various businesses needing timely deliveries.The company's revenue model is based on a per-transaction fee structure, charging clients according to delivery volume and distance. This model facilitates a steady transaction stream through partnerships with e-commerce and retail clients, with various pricing plans available. Flagship services include expedited delivery options, emphasizing performance-based pricing to ensure effective logistics solutions for users.Following its most recent funding round on December 8, 2021, where HK PICK-UP Limited raised USD 37.00 mn, the company plans to utilize these funds to expand its logistics network infrastructure across Asia. This strategic move aims to bolster its position in quick commerce and e-commerce sectors. Additionally, the company is focused on launching upcoming products tailored to enhance service efficiency and is eyeing expansion into other urban markets in Asia by 2023.

## Funding rounds

- Series B, Dec 8, 2021, $37M — Far Eastern Group, Jardine Matheson Holdings, Swire Properties, Cathay Venture, Reefknot Investments, PChome
- Series A, Oct 14, 2021, $5M — Reefknot Investments
- Series A, Jul 5, 2021, $15M — Far Eastern Group, Jardine Matheson Holdings, Swire Properties, Cornerstone Ventures, Cathay Venture, PChome, ZipX
- Series A, Nov 4, 2020, $15M — SparkLabs Global Ventures, Cyberport, Vision Plus Capital, Swire Properties, Alibaba Entrepreneurs Fund
- Series A, Nov 1, 2019 — Gobi Partners, Axis Capital Partners, Spark Ventures

## Investors

- Gobi Partners (https://capitalatlas.ai/funds/gobi-partners) — Series A
- Axis Capital Partners (https://capitalatlas.ai/funds/axis-capital-partners) — Series A
- Spark Ventures — Series A
- SparkLabs Global Ventures (https://capitalatlas.ai/funds/sparklabs-global-ventures) — Series A
- Cyberport (https://capitalatlas.ai/funds/cyberport) — Series A
- Vision Plus Capital (https://capitalatlas.ai/funds/vision-plus-capital) — Series A
- Swire Properties — Series A, Series B
- Alibaba Entrepreneurs Fund (https://capitalatlas.ai/funds/alibaba-entrepreneurs-fund) — Series A
- Far Eastern Group — Series A, Series B
- Jardine Matheson Holdings — Series A, Series B
- Cornerstone Ventures — Series A
- Cathay Venture — Series A, Series B
- PChome — Series A, Series B
- ZipX — Series A
- Reefknot Investments (https://capitalatlas.ai/funds/reefknot-investments) — Series A, Series B