Logivan - "Uber truck" of Vietnam: Successful contribution $ 1.75 millions, ambition to clean up the empty car in the logistics industry

This new investment will be used to upgrade the product, expand services in major cities.

Logivan Technology Co., Ltd. has officially contribution $ 1.75 million in Series A led by Ethos Partners, Insignia Venture Partners and VinaCapital Ventures.
Founded in September 1974, Logivan is a technology platform that connects owners and owners directly, helping businesses optimize costs and time for logistics services.
According to a share from Logivan, the volume of road transport in Vietnam in 2017 reached about $ 23 billion with a billion tons of cargo, of which vehicles accounted for more than a million vehicles and the average growth rate of the market 14%. This is a fertile ground for startup companies in the field of interconnectivity to find opportunities.
Also, most in Vietnam, 93% of truck owners are individuals. As a result, 60-70% of voyages run hollow, resulting in huge waste, not to mention CO2 emissions into the environment will double.
Logivan hopes to reduce the running time of empty cars, thus saving logistics cost for all Vietnamese enterprises,
Improve supply chain efficiency through fragmented and fragmented transport companies, " CEO Linh Pham said.

With the investment of $ 1.75 million this time, Linh Pham revealed that Logivan will be used to expand services in Ho Chi Minh City, Hanoi, Hai Phong and Da Nang; Simultaneously upgraded products to serve the large logistics companies and facilitate transparency in the monitoring and management of trucks.
We look forward to working with talented young people to tackle the great challenges of logistics and bring greater efficiencies to Vietnam's road transport industry, "said Linh Pham.
Since its launch, Logivan has connected more than 6,000 truckers. Recently, "Uber of Trucks" was also recognized as "Best Startup Company" in PITCH 2018 at RISE 2018, Asia Summit Technology Summit.
“Logivan is in a special position and ready to make a breakthrough in the Vietnamese transportation industry," said Kuok Meng Xiong, Managing Director of Ethos Partners. Other successful platforms: fragmented markets on both supply and demand sides, high vehicle ownership and capacity in the system. We believe Logivan will benefit from Ethos' practical approach to its companies ".
"We are very pleased to work with Linh and LOGIVAN's team," said Tran Nhat Khanh, chief technology officer of VinaCapital. "We fully support their vision for a better future for the industry. We believe in the ability of the founder to bring the company to the next level of growth by turning existing market challenges into opportunities to embrace. "
In April, Logivan successfully called $ 600,000 from Singapore-based Insignia Ventures Partners. Prior to that, in November of 2017, this startup won the UberEXCHANGE startup competition, earning a ticket to Silicon Valley to meet experts, senior advisors and investment funds.

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