Shippit has raised an A$30 million in Series B funding to fuel its further expansion into Southeast Asia.
The fund will also support the Australian logistics technology company in product and technology enhancements and boosting its team to grow the business..
Shippit provides fulfilment technology to retailers such as Big W, Sephora, Target, and Temple & Webster, handling five million deliveries monthly in Australia alone.
Its software are designed to improve order fulfillment, drive increased sales conversion and enhance customer experience. Retailers get to decide who delivers their order and how it is delivered.
“Ecommerce is how retail survives, revives and thrives. Scalable logistics is one of the fundamental enablers for ecommerce in the APAC region and this capital raise will enable us to advance our core business of providing the technology retailers need to grow,” said William On, Founding CEO of Shippit.
The latest round of funding was led by US-based technology investment firm Tiger Global alongside Australian representative Jason Lenga.