UniUni, a Richmond-based company in the last-mile delivery space, has pulled down another US$50 million ($69 million Canadian) in a Series C financing round.
The company today announced the oversubscribed Series C raise was led by DCM Ventures. This follows on a US$20 million Series B raise in December led by Celtic House Venture Partners, and an earlier Series A round of $40 million.
UniUni provides delivery service for e-commerce companies, and operates 50 sorting centres across North America, including in Los Angeles, New York, Dallas, Miami and Chicago.
"In just a few years, UniUni has emerged, embracing a new model of last-mile delivery that uses technology to provide the most reliable and cost-effective logistics service available, and we're happy to support them as they continue expanding across the U.S. and North America,” said DCM general partner Ramon Zeng.
"The North American logistics market is ripe for innovation," said UniUni CEO Peter Lu. "The traditional logistics firms were born before the digital age, and their dated infrastructure cannot keep up with the accelerating demands of the e-commerce era.
“On a global scale, North American e-commerce is still at a very early stage, and we expect online retail to continue to grow and become the primary method of shopping for most Americans in the next five to 10 years."
Lu said the most recent Series C raise will be used “to further develop our proprietary tech stack that powers our logistics platform” and grow its network of sorting centres in the U.S.