Singapore-based logitech startup Parcel Perform has raised around $20 million in its Series A funding round, media reports said. According to the startup, the funds will be used for global expansion, recruitment and building out its technology offerings and investing further in artificial intelligence (AI) solutions.
The funding round for Parcel Perform was led by Palm Beach-based Cambridge Capital. Other investors such as SoftBank Ventures Asia and existing investors including Wavemaker Partners and Investible participated in it.
The Software as a service (SaaS) startup helps improve the experience of e-commerce merchants and their customers when engaging with carriers.
Arne Jeroschewski, CEO and co-founder at Parcel Perform said in a statement, “With e-commerce becoming the primary retail channel, the need for merchants to provide an excellent post-purchase experience has become business critical.
“Parcel Perform is uniquely positioned to capitalise on this opportunity with its enterprise-grade solutions and its globally standardised logistics data integrations. We are thrilled that our investors recognise our ability to build a sustainable and profitable business by serving some of the most sophisticated enterprise customers worldwide to help them boost their customer satisfaction online.”
Last month, it was reported that another Singapore-based logistics startup Ninja Van is planning to go public in the US as early as next year, according to its chief executive.
A spokesperson told the media that the startup’s focus at this point is on growing the business at a sustainable rate. This will put them in a good position to take advantage of the financial opportunities at a suitable time in the future.