Malaysia: iStore iSend, a Malaysian logistics, and supply chain company, has secured US$5.5 million in a Series B round, co-led by Gobi Partners and logistics company EasyParcel.
The Selangor-headquartered startup will use the fresh capital to expand its services outside of Malaysia to more faster-developing markets such as the Philippines, Thailand, and Vietnam.
A portion of the funds will also be used for the acquisition of online-to-offline (O2O) clients in existing markets.
iStore iSend is an end-to-end fulfillment solution company providing clients with a complete omnichannel experience, from warehouse management to shipping.
The company has developed new functions and capabilities around helping offline companies go online by offering e-enabler services for brands and retailers, including online store setup, besides brand onboarding solutions for online e-marketplaces, official online store management, and growth and marketing campaigns management.
“The full-stack services that iStore iSend offers its clients as well as the full integration of its system into the most popular e-commerce sites is a real opportunity for investors that should not be overlooked,” Thomas G. Tsao, Chairman and Founding Partner of Gobi, said.