Taiwanese smart logistics firm BBTruck has announced raising $6 million in a pre-Series A funding round that will help finance its global market expansion.
The round, which brings the startup’s total funding to $6.5 million, was co-anchored by Oasis Venture, H2U Corp, and Starworks Entrepreneurial Venture Capital, per the announcement.
BBTruck, founded in 2019, operates a B2B supply chain logistics platform that enables precise capacity calculation and allocation. It has served top-tier enterprises in technology, healthcare, international logistics, and retail.
The company said its platform automatically allocates the most suitable transport fleet, maximizing logistics resource efficiency, cutting empty truck rates by nearly 75%, and improving order placement and cargo tracking efficiency by over 40%.
BBTruck said it will use the fresh capital to accelerate its market expansion, particularly in North America and Southeast Asia, including Vietnam, Malaysia, Singapore, Thailand, and Indonesia. It also aims to improve its product development and acquire more talent.
“This funding will enable us to enhance our technology offerings and expand our presence in key markets, allowing us to better serve our clients and fully transform the logistics industry,” said BBTruck CEO and co-founder Steven Chou.
BBTruck’s funding comes as Taiwan’s logistics sector suffers from inefficiencies due to reliance on manual processes and phone orders, leading to frequent empty return trips.
The company said it seeks to bridge this gap through its transparent logistics management platform.
The funding also took place as startup financing in Greater China logged a 41% year-on-year (YoY) decline in June as macro uncertainties, geopolitical tensions, and a tepid exit landscape continued to dampen investor interest.
In June 2024, privately held companies headquartered in mainland China, Hong Kong, Macau, and Taiwan raised nearly $2.8 billion through the completion of 157 deals compared to $4.8 billion across 231 transactions in the corresponding period last year, according to proprietary data compiled by DealStreetAsia.
