LOGIVAN raises USD 1.75m in Series A funding round led by Ethos Partners Singapore and Insignia Ventures Partners

Vietnam-based LOGIVAN announced today that they have raised USD$1.75m in a Series A funding round led by Ethos Partners, Insignia Venture Partners and Vietnam-based VinaCapital Ventures.

Founded in September 2017, LOGIVAN is a Vietnamese trucking platform aggregating trucking and shipping capacity over their platform. It hopes to reduce inefficiencies in the Vietnamese trucking market valued at over USD$23bn.

Since its launch, LOGIVAN has brought more than 6,000 truckers onto its platform. LOGIVAN was recently recognised as the “Best Startup” in PITCH 2018 at RISE 2018, Web Summit's tech conference in Asia.

Linh Pham, founder of LOGIVAN, former Goldman Sachs analyst and an alumna of the University of Cambridge, commented that, “With the new funding, LOGIVAN is expanding services in Ho Chi Minh city, Hanoi, Hai Phong and Da Nang. We are also upgrading our products to serve big logistics corporates and enabling transparency in their truck tracking & management. We look forward to working with young talented people to solve a huge logistics challenge and bring more efficiency to Vietnam’s trucking industry.”.

Kuok Meng Xiong, Managing Partner at Ethos Partners said: “LOGIVAN is in an exciting position and is poised to disrupt the trucking industry in Vietnam. We see very similar traits that made other platforms successful: fragmentation on both the supply and demand sides, a high rate of individual ownership of vehicles and excess capacity in the system. We believe LOGIVAN stands to benefit from Ethos’ hands-on approach towards its companies. We’re excited to work alongside an entrepreneurial and capable founder like Linh to contribute to LOGIVAN’s future growth”.

Yinglan Tan, Founding Managing Partner at Insignia Venture Partners said: “We are glad to have invested again in LOGIVAN. We continue to be impressed by the quality of the team assembled by Linh and the speed and quality of execution. With new partners and alliances, we believe that LOGIVAN is well-poised to disrupt the massive, but fragmented, trucking market in Vietnam.”

Khanh Tran, Head of Technology Investment at VinaCapital commented: “We are excited to work with Linh and the team at LOGIVAN. We firmly stand behind their vision of a better future for the logistics industry in the region. We are confident in the founders' ability to take the company to the next level of growth by turning the many current challenges in the market into ripeful opportunities ready for the taking.”