Hong Kong’s logistics unicorn Lalamove has expanded its footprints into the US market, media reports said. The move comes after Lalamove started its on-demand logistics service in regions such as Latin America, Southeast Asia and China.
The expansion spree comes at a time when popular Chinese app TikTok has been banned in the US due to political tensions between the US and China.
The company sees the Covid-19 pandemic as an opportunity to thrive in the US as residents are forced to stay indoors, which in turn is expected to boost the burgeoning delivery services demand.
Blake Larson, international managing director at Lalamove, told the media, “Delivery is essential, especially during the pandemic. But many local businesses don’t have or cannot afford in-house fleets, so we’re excited to work with businesses in the Dallas Fort-Worth area to provide same-day, on-demand delivery services to their customers.”
Furthermore, Lalamove will embark its operations in the Dallas Fort-Worth area, a major hub for distribution and logistics in the US. The company will launch services in Houston and Chicago once the business grows in the country.
Lalamove ranks among the top unicorns in Hong Kong which have touched the $1 billion unicorn valuation mark. The company serves as an Uber for businesses and individuals who seek to transfer goods within a city.
It is reported that the company has a team for its Chinese division known as Huolala. The team is different compared to the international teams which manage the overseas segment.
The company’s portfolio of investors include Shunwei Capital, Sequoia Capital China and Hillhouse Capital.