fbpx
  • Topics
    • AI & Big Data
    • AR & VR
    • Blockchain
    • Clean Technology
    • Content & Games
    • Cybersecurity
    • Enterprise & SaaS
    • Gadgets & Electronics
    • Health & Bio
    • FinTech
    • IoT
    • Transportation & Logistics
    • Marketplaces & E-commerce
    • Ecosystem
    • Robotics
    • Investments
    • EdTech
    • Featured
  • Deals
    • Private Equity
    • Venture Capital
    • IPO & Markets
  • Interviews
    • Startup Investing
    • Fundraising
    • Product Launching
  • MORE
    • Events
    • Startups Advice
  • Submit an Article
  • REGISTER
  • login
No Result
View All Result
No Result
View All Result
Home E-commerce

Thai startup MyCloudFulfillment raises $7.4m in Series B funding

Team AsiaTechDaily by Team AsiaTechDaily
05 November 2021
in E-commerce, Featured
0
MyCloudFulfillment
12
SHARES
Share on FacebookShare on Twitter
Bookmark(0)

Please login to bookmark

No account yet? Register

MyCloudFulfillment, a Thailand-based e-commerce fulfillment company, announced raising a total of $7.4 million in its Series B funding round from JWD Group and SCB 10X.

The startup, which provides storage, packing, and shipping services, with sales channel integration and data analytics, said it will use the fresh funds to improve its warehouse service capability and expand its services to Vietnam and the Philippines.

The funding round comes a year after MyCloudFulfillment completed a $2-million Series A round of financing from ECG-Research, Gobi Partners, NVest Ventures, and SCB 10X, broadening its product development and building a data-centric organization.

SCB 10X is the venture arm of Thailand’s Siam Commercial Bank. Earlier this year, it set up a $50-million fund to invest in blockchain, decentralized finance, and digital assets.

JWD Group, meanwhile, is a Southeast Asia-based logistics and supply chain firm, which in May invested in Thailand-headquartered restaurant management startup FoodStory.

The funding also comes as the value of e-commerce market worldwide is projected to reach THB75 trillion early this year and the number of e-commerce users is projected to hit 3.5 billion.

“We want our customers to focus only on the selling process because it is the most important part and the rest we will do it for you from the production process until delivery to your customer. We are on the same team as your personal assistant,” Nithi Satchatippavarn, MyCloudFulfillment CEO, said on the company’s website.

He earlier pointed out that Asia is the largest market, accounting for 61.5% of worldwide users with Southeast Asia as the key growth driver. Statista forecast shows that Southeast Asia will see 44% growth in e-commerce transaction.

During the first half of 2021, the startup recorded an average of 300,000 orders per month. The company also added a new warehouse in Min Buri with more than 6,500 square meters of space. It is set to fulfill up to 30,000 orders at a maximum per day.

What are your thoughts?
+1
1
Upvote
+1
0
Clap
+1
0
Clap
+1
0
On fire
+1
0
Meh
+1
0
Clap
+1
0
Previous Post

Singapore robotics startup BeeX scores seed investment

Next Post

Airwallex gets payments services license in Singapore

Related Posts

Qoala
Featured

Indonesian insurtech startup Qoala raises $65m in Series B round

May 13, 2022
Chainalysis
Blockchain

Blockchain data platform Chainalysis bags $170m in GIC-led funding

May 13, 2022
Good Startup
Featured

Singapore VC Good Startup closes alt protein fund at $34m

May 12, 2022
oHouse
Featured

South Korean home interior platform oHouse raises $182m

May 10, 2022
Peppermint
Featured

Australian fintech Peppermint gets e-wallet license in the Philippines

May 5, 2022
LottieFiles
Animation

LottieFiles scores $37m in Square Peg-led Series B round

May 5, 2022
Next Post
Airwallex

Airwallex gets payments services license in Singapore

Discussion about this post

No Result
View All Result

FREE NEWSLETTER

Copyright © 2021 AsiaTechDaily.com| About Us | Seed acceleratorTerms of Use| Privacy Policy| Cookie Policy Contact : [email protected] | DMCA.com Protection Status | trusted by Wimgo

No Result
View All Result
  • Topics
    • AI & Big Data
    • AR & VR
    • Blockchain
    • Clean Technology
    • Content & Games
    • Cybersecurity
    • Enterprise & SaaS
    • Gadgets & Electronics
    • Health & Bio
    • FinTech
    • IoT
    • Transportation & Logistics
    • Ecosystem
    • Marketplaces & E-commerce
    • Robotics
    • Investments
    • Featured
  • Deals
    • Private Equity
    • Venture Capital
    • IPO & Markets
  • Interviews
    • Startup Investing
    • Fundraising
    • Product Launching
  • MORE
    • Events
    • Startups Advice
  • Submit an Article
  • Forums
  • Jobs
  • REGISTER
  • Login

Copyright © 2021 AsiaTechDaily.com| About Us | Seed acceleratorTerms of Use| Privacy Policy| Cookie Policy Contact : [email protected] | DMCA.com Protection Status | trusted by Wimgo