#Asia Spaceship raises funding from YCH Group’s Supply Chain Angels, aims to build new features


Prior to this investment, Spaceship has raised undisclosed seed funding from Ardent Capital


Singapore-based logistics startup Spaceship announced that it has raised an undisclosed investment from Supply Chain Angels (SCAngels), a corporate venture arm of YCH Group.

Previously, the startup has raised an undisclosed seed funding round from Ardent Capital in November 2014, only two months before the service was first launched.

“With the investment, we can better enhance our technology stack and product to include features like smart scheduling for fleet management, real time sensors for temperature for temperature and humidity and enhanced inventory systems, among others. We believe that with the new enhancements, we’ll be able to meet the needs of SMEs and propel our business more swiftly in Singapore and beyond,” said Spaceship Founder and CEO Yeo Zhi Wei in a press statement.

SCAngels also stated that it will provide the startup with “the ecosystem to thrive” by giving access to infrastructure, expertise, and contacts.

Also Read: Tim Draper, Dell Foundation invest in Indian logistics tech startup Blowhorn

Targetting both individual and corporate users, Spaceship provides a logistics solutions that aims to solve the problem of expensive, limited, and under-managed storage space.

Using a mobile and web application, users can store and move their belongings in Spaceship’s warehouses “the way they are moving and storing files using Dropbox.” Users only have to book via the platform and the startup will send industry-grade boxes and store it in the warehouses; in the platform, they can also add pictures and information on what each box contains.

YCH Group itself is an integrated end-to-end supply chain management and solutions provider, which history goes back to 1955. It claims to be the first large local enterprise (LLE) under the third installment of National Research Foundation’s (NRF) Early Stage Venture Fund (ESVF) to invest in a startup.

Its venture arm SCAngels invests in startups that are “synergistic and complementary” to the company, with the goal to nurture “innovative disruptors.”

Image Credit: neyro2008 / 123RF Stock Photo

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