Moovaz, a Singapore-based logistics startup, raises new funds in Series A round – aiming to transform the global relocation industry.
Moovaz is revolutionizing the logistics industry by enabling simple and efficient moving through smart technology. It is an all-encompassing relocation service for the increasingly mobile citizen in the globalized world. Moovaz offers products that promise a seamless experience for the global community, making moving simple, first time, every time.
The logistics startup secured an undisclosed Series A funding from SCAngels and SGInnovate. Supply Chain Angels (SCAngels) is the corporate venture arm of YCH Group, with the aim of ‘Creating Unicorns in the Supply Chain’. SGInnovate, on the other hand, is a private organization wholly owned by the Singapore Government, with the mission of helping entrepreneurial scientists build Deep Tech startups.
“As a leading corporate venture fund in Singapore, SCAngels stages the right conditions so startups can get into an interactive cycle of improvement and disruptive innovation. With their collaboration with SCAngels, they are given an advantage over their competitors in solving traditional challenges such as under-utilization of capacities and information asymmetry, which have constantly plagued the relocation industry,” said James Ong, Partner of SCAngels and Chief Investment Officer of YCH Group.
Moovaz plans to use the new fund to transform and strengthen the global relocation industry. In addition, Moovaz will have the opportunity to utilize YCH Group’s business capabilities, supply chain operation, as well as collaborate with YCH Group’s network of freight forwarding partners.
SCAngels will also provide Moovaz with market access via multiple networks across Asia, mentorship with industry experts, and technology and business collaborations, said in a statement.