Richmond-based parcel delivery company UniUni has landed another US$30 million in a second round of Series C financing, bringing its total venture capital raise so far to US$120 million.
UniUni specializes in last-mile delivery, providing warehouse, sorting and delivery services for companies like China's Temu and Shein.
The latest Series C2 round, which was oversubscribed, is UniUni’s second Series C funding round this year. In April, UniUni raised US$50 million in the first part of a Series C raise.
The latest US$30 million round of investment was led by Bessemer Venture Partners and included LFX Venture Partners, Lanchi Ventures, Joy Capital and Celtic House Venture Partners. It follows an earlier Series C raise of US$50 million in April.
"Logistics is a massive market undergoing structural change due to the accelerating demands of the e-commerce era, with a new class of carriers emerging," Bessemer Venture Partners partner Bryan Wu said in a press release.
"UniUni brings a new model of delivery that addresses the pressing demands for e-commerce platforms and online retailers. We've been impressed with the company's traction and growth and look forward to partnering with the UniUni team as they continue to expand their footprint across North America.”
Founded five years ago, the Richmond-based company has raised a total of US$120 million in venture capital financing to date and employs 600 people. UniUni was ranked Canada’s fourth fastest-growing Canadian company in 2023 by The Globe and Mail. The company says it has doubled the number of warehouses it has in the past six months, and operates a driver network of more than 40,000.
“UniUni now has more than 60 warehouses across North America, and these funds will help to further boost our growth and expand our service areas to more of the United States,” UniUni CEO Peter Lu said in a news release. “Automated sortation lines will be deployed in more cities, which will enhance parcel-handling capacity, efficiency and accuracy, while speeding up delivery times.”
-- With files from Glen Korstrom and Bridette Petersen
