Singapore, 27 August 2018 – Singapore’s home-grown container haulage start-up Haulio has raised S$1 million in seed round investment, led by PSA unboXed together with 500 Startups, NUS Enterprise and several logistics industry angel investors in May 2018. This seed funding comes after their previous pre-seed round of S$75,000 from returning investors PSA unboxed and NUS Enterprise, which is the sole prior funding round raised by Haulio. Additionally, Haulio will be exhibiting with TechInnovation Singapore 2018, held from 18th to 19th September 2018.
Currently Haulio has over 200 companies onboard the platform, with over 80 hauliers1 and over 100 freight forwarders and end customers. They bring over a fleet of more than 1,000 trucks to the platform, having moved over 35,000 TEUs2 equivalent to over half a million tonnes of cargoes since their launch in May 2017 and an average of 200 containers daily for their users to date.
“There is desire in the industry for change – which is where Haulio comes in to target this unexplored potential with collaborative technology.” says Alvin Ea, co-founder and CEO of Haulio, who was previously a 2nd generation family business owner and started his own haulage business prior to this. “We are solving a major problem in the industry - strain on infrastructure and insufficient facilities during peaks with underutilization during lull periods. We’ve only just begun our journey with less than 1% done; the rest of the 4,000 ports in the world awaits.”
Elton Fong, Team Lead of PSA unboXed, commented, "Haulio is in line with PSA's vision for the container port of the future, a part of which is increased connectivity with the logistics and supply chain industry and greater productivity for all stakeholders involved." Additionally, Khailee Ng, Managing Partner of 500 Startups from Silicon Valley also expressed positive sentiments regarding Haulio’s potential through his global exposure: “Having invested in over 20 international markets, we’ve seen how simple ideas can catch fire and spread globally, fast. We saw this in investments like Grab. When we met Haulio, we knew, this is it.”
1 There is a total of 230 hauliers in the whole of Singapore.
2 Twenty-Equivalent Units
Founded in 2016, Haulio is a centralised, collaborative platform designed for the container haulage industry to better optimise their resources through better handling of the peaks and troughs of the business. The B2B platform pools together the port, hauliers and customers to match incoming hauling requirements to available hauliers. Haulio provides an immediate solution to key problems in the industry of logistics players, namely the huge strain on infrastructure and insufficient facilities during peaks, in addition to underutilization during lull periods. By pairing demand and supply more efficiently in a systematic way, Haulio encourages collaboration amidst competition.
Currently Haulio has over 200 companies onboard the platform, with over 80 hauliers1 and over 100 freight forwarders and end customers. They bring over a fleet of more than 1,000 trucks to the platform, having moved over 35,000 TEUs2 equivalent to over half a million Tonnes of Cargoes since their launch in May 2017 and an average of 200 containers daily for their users to date.
About PSA unboXed: