Jumppoint, a Hong Kong-based digital integrated logistics startup, has successfully completed Series A of its funding round with $6.5 million in investments added to its coffers.
The funding round was led by MindWorks Capital and was also joined by Headline Asia, Chinachem Group, Philip Kuai (Founder of Dada Nexus), and the Innovation and Technology Venture Fund of Hong Kong SAR Government.
In a statement, Jumppoint said they intend to use the funds to expand their team and enhance the capabilities of the platform. They also hope to strengthening local operations and further expand the company’s services in Thailand, Singapore, and Malaysia through a roll-up strategy.
“This funding will allow us to further invest in our technology and bring even more value to our customers,” said Founder and CEO Samson Ho.
With fresh funds for its use, the company also announced the addition of Philip Kuai, founder of Nasdaq-listed logistics technology company Dada Nexus, to its team as its new board advisor.
Kuai is expected to contribute to the company’s continued growth across the region with his wealth of experience and expertise.
Jumppoint is a one-stop e-commerce logistics technology platform that provides domestic express, cold-chain delivery, warehousing, fulfillment and cross-border logistics services across Hong Kong and Southeast Asia.
Since its founding in 2020, the platform aggregates long-tailed logistics service providers as it also optimises its partners’ operational efficiency by offering a standardised operating system.
In the last two years, Jumppoint has expanded into the cross-border e-commerce logistics market with proprietary international freight forwarding and CBEC logistics network capability.
The use of the company’s proprietary dynamic route optimisation engine and demand prediction engine has allowed an increase in logistics efficiency as it also reduced cost by up to 40 percent.
The firm currently handles over 200,000 orders per month and manages an approximately 400,000 square feet of warehouse space.
Leveraging its proprietary logistics technology and advanced AI capabilities, Jumppoint has managed to develop its own in-house multi-level dynamic routing technology, jumppoint.ai, that offers highly efficient and cost-saving logistics services to B2B and B2C users.
And with its year-over-year growth of over 300 percent, Jumppoint claims that it is on track in reaching profitability by Q3 2023.