Fr8Labs, a Singapore and Indonesia-based logistics startup that offers a freight forwarder solution, has raised $1.5 million in seed funding.
SaaS Investors
The investment was from investors including East Ventures, FEBE Ventures, Kaya Founders, Mulia Sky Capital, Seedstars, Venturra, and angel investors.
Founded in 2009, East Ventures is a venture capital investment firm based in Singapore. The firm seeks to invest in seed-stage, early-stage, later-stage, and growth-stage companies operating in the e-commerce, software, marketplaces, gaming, application, and information technology sectors.
FEBE Ventures is a venture capital firm based in Singapore. Founded in 2019, The firm seeks to invest in b2b, b2c, fintech, logistics, healthtech, foodtech, edtech, SaaS, proptech, e-commerce, crypto, and blockchain sectors.
Kaya Founders is an early-stage investment firm that backs visionary entrepreneurs in the Philippines and Southeast Asia.
Seedstars is an industry-agnostic investment firm dedicated to emerging and frontier markets
Mulia Sky Capital is an investment firm with a primary focus on seed to pre-series A stage.
Founded in 2013, Venturra Capital is a venture capital firm based in Jakarta, Indonesia. The firm seeks to invest in technology-enabled companies operating in e-commerce, financial technology, marketplaces, healthcare, and education sectors across Indonesia and Southeast Asia.
Fr8Labs Use of Funds
The funding will be used to expand its platform and add services like FX trade, financing, cargo insurance, rates management, and a marketplace.
About Fr8Labs
Founded in 2022 by Glenn Lai and Felix Lu, Fr8Labs offers an integrated freight forwarder solution through a SaaS platform, including modules for quotations, booking confirmations, operations, invoicing, and automated shipping tasks. The platform helps departments like sales and operations collaborate efficiently and links platforms like email and chat.
Funding Details
Company: FR8Labs Pte. Ltd.
Raised: $1.5M
Round: Seed Round
Funding Month: November 2023
Investors: East Ventures, FEBE Ventures, Kaya Founders, Mulia Sky Capital, Seedstars, Venturra
Company Website: https://fr8labs.co/
Software Category: Logistics
Source: https://techcrunch.com/2023/11/29/fr8labs/