Logistics startup Moovaz raises US$7m in Series A round led by Quest Ventures

The Business Times

SINGAPORE-BASED Moovaz has raised US$7 million in a Series A funding round led by venture capital firm Quest Ventures.

The funding round saw the participation of other investors such as government-owned deep-tech investor SGInnovate and Supply Chain Angels (SCAngels) – the corporate venture arm of homegrown logistics player YCH Group.

Both had previously made investments of undisclosed amounts in the logistics startup.

The startup will use funds raised to tap the burgeoning Asia relocation market. It also looks to disrupt the traditional moving industry, Moovaz announced on Monday.

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