26.02.2021, 17:01

Skype co-founder invests in Vietnam’s Loship

Skype co-founder invests in Vietnam’s Loship

Loship, an ecommerce-focused logistics startup in Vietnam, on Friday morning announced it has raised an undisclosed amount of funding from Skype co-founder Jaan Tallinn.

Tallinn participated in Loship’s Series C funding through his investment vehicle MetaPlanet Holdings.

The investment comes four months after the one-hour-delivery e-commerce startup secured capital in a bridge round led by Vulpes Investment Management.

This capital injection marks Loship as the first portfolio company of MetaPlanet in Vietnam and Southeast Asia.

According to Loship CEO Nguyen Hoang Trung, the fresh capital will be spent on expanding the firm’s delivery network, human resource, technology, and market.

“A huge portion of the funding will be poured into upgrading our app and developing technologies in Loship,” Trung said in the company's announcement.

“In addition, we will also ramp up our marketing strategies to cement Loship’s presence in the domestic market."

“It didn’t take me very long to realize Loship was on to something,” Loship quoted Tallinn as saying in its announcement.

“MetaPlanet is planning to pay more attention to the rapidly growing economies in Southeast Asia. So I’m delighted to be off to a strong start in Vietnam by adding Loship as our first portfolio company there.”

Founded in 2017, the startup traces its roots to Lozi, a review app that allowed users to find food, beverages, and coffee shops.

It was then transitioned into a delivery services platform.

Loship has closed its series A and B rounds from investors such as South Korea’s Smilegate Investment, Hana Financial Group, DTNI, and Golden Gate Ventures.