Jumppoint, a one-stop logistics platform for e-commerce merchants in Asia, raises US$6.5m Series A
HONG KONG, Jan. 12, 2023 /PRNewswire/ -- Jumppoint, the Hong Kong-based digital integrated logistics platform, has completed a successful Series A funding round, raising $6.5m led by MindWorks Capital with participation from Headline Asia, Chinachem Group, Philip Kuai, the founder of Dada Nexus (NASDAQ:DADA), the leading local delivery platform in China and the Innovation and Technology Venture Fund of the Hong Kong SAR Government.
Founded in 2020, Jumppoint has quickly become a key player in Hong Kong's express delivery market, as well as the largest cold-chain express service provider in the region following the acquisition of YF Cold Chain. The company has also expanded into the cross-border e-commerce logistics ("CBEC") market with proprietary international freight forwarding and CBEC logistics network capability. Jumppoint aims to become the preferred one-stop logistics platform for e-commerce merchants in Asia, specializing in cold-chain and large bulky items. The company's one-stop solution covers Asia's logistics value chain by offering express, warehousing, fulfillment, and cross-border logistics services.
With a growing customer base, Jumppoint currently handles over 200,000 orders per month and manages approximately 400,000 sq ft of warehouse space. The company has experienced rapid growth, with year-over-year growth of over 300%. Jumppoint is on track to reach profitability by Q3 2023.
One of the key differentiators of Jumppoint is that the company not only aggregates long-tailed logistics service providers but also takes an extra step to optimize its partners' operational efficiency by offering a standardized operating system. The company has built a proprietary dynamic route optimization engine and demand prediction engine, which have een able to increase logistics efficiency and reduce cost by up to 40%.
The company is also proud to announce the addition of Philip Kuai, founder of Nasdaq-listed logistics technology company Dada Nexus, as a board advisor. Mr. Kuai brings a wealth of experience and expertise to the Jumppoint team and will contribute to the company's continued growth across the region.
The funding will be used to expand Jumppoint's team and enhance the capabilities of its platform, as well as to strengthen local operations and further expand the company's services in Thailand, Singapore, and Malaysia through a roll-up strategy. "We are thrilled to have the support of MindWorks Capital and Phillip Kuai as we continue to grow and evolve," said Samson Ho, Founder, and CEO of Jumppoint. "This funding will allow us to further invest in our technology and bring even more value to our customers."
"Jumppoint has a strong track record of delivering exceptional service to its customers, and we are confident in the company's ability to continue driving growth and innovation in the logistics industry," said Cassidy Wong, Director at MindWorks Capital.
With the new funding, Jumppoint is well-positioned to continue its rapid expansion into Southeast Asia and solidify its position as a leading player in the Hong Kong logistics market.
Jumppoint is a One-Stop e-Commerce Logistics Technology Platform established in Hong Kong. Jumpoint, founded in 2020, provides domestic express, cold-chain delivery, warehousing, fulfillment and cross-border logistics services across Hong Kong & Southeast Asia. Jumppoint currently handles over 200,000 orders per month and manages approximately 400,000 sq ft of warehouse space.
Leveraging its proprietary logistics technology and advanced AI capabilities, Jumppoint has developed its own in-house multi-level dynamic routing technology, jumppoint.ai, offering highly efficient and cost-saving logistics services to B2B and B2C users.
Innovation and Technology Venture Fund
The ITVF is a HK$2 billion fund established by the HKSAR Government in 2017 to invest in local I&T start-ups and create a more vibrant innovation and technology ecosystem in Hong Kong.
MindWorks Capital invests in and empowers Asia's brightest entrepreneurs to build transformational companies. MindWorks manages capital from university endowments, global asset managers, fund of funds, family offices, as well as Asia's leading new economy entrepreneurs. The firm utilizes a Pan-Asia strategy to source direct investments in technology companies across both Greater China and Southeast Asia. Founded in 2013, the firm is headquartered in Hong Kong with offices in Beijing, Shanghai, and Jakarta.
MindWorks has been recognized by Preqin as a top-performing venture capital firm and is also a signatory of the United Nations' Principles for Responsible Investment. The firm currently manages over US$1 billion in total net asset value across its funds and is a co-investment partner of the Innovation Technology Venture Fund initiated by the Hong Kong Government.
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