ComfortDelGro backs Singapore logistics start-ups

ComfortDelGro Ventures was set up in November with a $100 million fund targeting mobility technology start-ups globally at the seed to Series B stages. The fund is said to be managed on an arms-length basis with its own set of decision-making, approval and funding processes. 

The latest investments include Swat, a shared mobility company that aims to optimize the routing of vehicle fleets to improve utilization rates, as well as Haulio, a start-up that helps container trucking companies improve efficiencies and services through a customer connection platform.

Earlier this year, Swat helped the Singapore government with technology related to its on-demand public bus service and launched its first overseas operations with a similar service in Australia. Haulio, which was incubated by the VC arm of shipping giant PSA International, is currently connected to about 75% of Singaporean truckers and is also planning an overseas expansion.

“We are excited about the possibilities these new tie-ups may bring to the table in the area of smart urban mobility and transportation,” ComfortDelGro CEO Yang Ban Seng said in a statement. “We are building a new wing beyond the core passenger transport business.”

ComfortDelGro operates a fleet of about 43,000 buses, taxis and rental vehicles across Singapore, China, Vietnam, Malaysia, the UK, Ireland, and Australia. The company acquired Australian bus service operator B&E Blanch in April for A$28.3 million ($20 million). It was the group’s sixth acquisition in the country within the prior 12 months.

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• Topics
• Consumer
• Early-stage
• Southeast Asia
• Venture
• Singapore
• Transportation
• Logistics