Tech In Asia: Boeing’s VC arm leads round of GGV-backed logistics startup
Singapore-based Quincus, a business-to-business (B2B) logistics solution company, has raised an undisclosed sum in the second close of its latest round of funding at a valuation of over US$100 million.
More funding details
Lead investor: AEI HorizonX
Returning investors: UP Partners and GGV Capital
Stage: Series B
More company updates
- The company will use the latest investment for the expansion of its global footprint, particularly in the US.
- Quincus said its clientele includes ecommerce, airlines, freight, and household brands across the world, notably in markets such as Singapore, Indonesia, Malaysia, and Vietnam.
- Founded in 2017, AEI HorizonX is Boeing’s corporate venture capital arm formed through a partnership with AE Industrial. The fund chose Quincus as its first investment based on the startup’s ability to connect shippers, operators, and freight forwarders with an open operating system.
- With the latest funding, Quincus gains access to operational knowledge and industry relationships that Boeing and AE Industrial have built over the years.
- Quincus is a software-as-a-service platform that can automate manual tasks and provide real-time supply chain visibility for enterprises in the logistics sector.
- In September, Quincus announced the first close of its series B round. The company said then that it aims to grow its headcount to over 400 workers by the end of this year.
For more coverage about the company, head here. You can also click on the link below to view the company’s key details and funding history.