Global ecommerce startup Floship bags US$3.5 million funding round

Fri Dec 16, 2016 - 7:00am UTC

Global ecommerce startup Floship bags US$3.5 million funding round

Hong Kong provider of global logistics and fulfillment startup Floship Global Ecommerce Fulfillment recently announced that the company has successfully closed a pre-series A US$3.5 million bridge funding round earlier this December.

This fundraising was participated by Taiwan’s early stage technology-focused Cherubic Ventures, Hong Kong’s Big Boom and Empiricus Capital, as well as China’s Regent Capital.

“We are grateful for the investment of Ardent Capital and Vectr Ventures in earlier funding rounds, and our team is honored to be working with such respected investors as Cherubic Ventures, Big Bloom Capital, Empiricus Capital, and Regent Capital during this most recent round,” said Steve Suh, a Co-Founder of Floship.

Providing global e-commerce fulfillment directly from Hong Kong, Floship leverages on the strategic location of Hong Kong as the world’s number one air cargo hub, providing e-commerce vendors to compete in more markets from one centralized fulfillment warehouse.

“We are beyond excited about the results of our latest funding round. As our company continues to experience growth and gain positive traction in the marketplace, we could not be more thrilled about the validation we have gained from those who have made the decision to invest in our e-commerce fulfillment model,” said Steve Suh.

With the funds, Floship plans to accelerate the service improvements of their technology as well as increasing business expansion efforts through providing clients with seamless integration to ever more e-commerce platforms.

Besides, as Floship’s current technology integrates with Shopify, WooCommerce, Magento, Dear Systems, and Aftership, the company is committed to building more integrations to shopping carts to serve more customers on a wider variety of e-commerce platforms.

Thus, the Floship’s team will also be working on accelerating the development of algorithms that help optimize shipping rates on a per package basis as well as building a set of tools to make it easier for online retailers to manage their daily global fulfillment at scale.

“As a leader in our industry, we differentiate ourselves by providing a highly automated fulfillment experience for online retailers utilizing multiple couriers to obtain the best rates for global e-commerce shipping.” Steve Suh explains.

To date, Floship has completed fulfillment for more than 100 crowdfunding campaigns, some of which have been the most successful in the world.

“But still, as a startup company that doesn’t have the luxury of standing still, we are always striving to improve. This latest funding round will allow us to do just that.” adds Steve Suh.

By Vivian Foo, Unicorn Media

This news is published on Reuters.