• GoGoX

  Participated · Equity · Jul 2018

  GOGOX is a Hong Kong-based logistics platform. The company operates a digital logistics platform serving customers in the region. According to the article, GOGOX has raised nearly $100 million in a fresh funding round. The round was co-led by BOCOM and CMF. The article does not provide details on operating metrics, use of proceeds, or specific financing instruments. GoGoVan is a Hong Kong-based on-demand logistics service anchored around short-distance logistics and trips. The company became Hong Kong’s first billion-dollar startup via a merger last year and, together with 58 Suyun, claims to cover 300 cities with about eight million registered users and roughly 2,000 staff. GoGoVan plans to introduce a door-to-door option and other offerings intended to simplify logistics and delivery services. It has primarily focused on China to date but intends to expand into India and Southeast Asia using new capital. The company raised $250 million in the first phase of a new funding round and did not disclose a valuation for this raise. GoGoVan positions itself against rival Lalamove, which raised $100 million last year and is exploring an IPO. GoGoVan operates an app marketplace that connects van drivers with users for on-demand delivery and logistics. Launched in July 2013 and based in Hong Kong, the company has access to 18,000 registered commercial vehicles. It has processed more than one million transactions with a total value exceeding HK$120 million (about $15.5M) and manages roughly 300,000 transactions per month in Hong Kong. Corporate clients include Kerry Logistics, SF Express, and DHL. After expanding into Singapore, GoGoVan plans to use new funding to add product features and continue expansion into additional Asian markets. Co-founder and CEO Steven Lam said the company captured close to 50% of independent logistics providers in Hong Kong within nine months of launch.

• Tutorgroup

  Participated · Series C · Nov 2015

  TutorGroup provides synchronous online English and Chinese language courses via proprietary platforms such as TutorABC, VIPABC, TutorABC Jr., and TutorMing. The company runs millions of classes annually, has more than 4,500 teachers across 60 countries, and has hosted over 10 million classroom sessions. Its technology stack includes an adaptive learning engine, analytics drawn from more than 10 years of courses, over 16,000 hours of learning materials, a CRM, 24/7 support, and marketplace tools; it has also trialed TutorGlass with Google Glass. Founded in 2004 with offices throughout Asia and an R&D team in Silicon Valley, TutorGroup plans to expand internationally and broaden offerings beyond language learning into "Expert on Demand" adjacencies. Planned extensions include tutoring across school subjects, professional consulting services (legal, medical, wealth management), and leisure learning such as cooking and yoga. The company positions its platform and data-driven recommendations as a high barrier to entry for competitors. TutorGroup operates live, real-time language classes through products such as VIPABC and TutorABC for English learners in China, Hong Kong, and Taiwan, and TutorMing for Chinese learners. Its platform connects about 2,000 teachers across 30 countries and uses technology to automatically recommend class size, learning pace, and course content. Launched in 2004 with international headquarters in San Francisco, the company says it will use new funding to grow its business in Asia and expand in the Americas. TutorGroup reported strong expected demand in China, forecasting triple-digit annual sales growth in the coming years and citing a projected 25% annual market growth for adult English learning in China to more than $21 billion by 2015. The company has raised a total of $115 million to date. TutorGroup is an online live synchronous e-learning company specializing in English training across Asia and Mandarin instruction for global business professionals. It operates four service brands: VIPABC.com, TutorABC.com, TutorABCJr.com and TutorMing.com, covering multiple learner segments. Founded in 2004 and led by CEO Dr. Eric Yang, the company has delivered over 5 million classes in 14 countries. TutorGroup raised US$15 million in growth financing from Qiming Venture Partners. The company intends to use the capital to expand the delivery of its services throughout China. The funding is presented as growth-stage capital to support that expansion plan.

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