Southeast Asian Intelligent Logistics Tech Corp Zeek Completes New Round of Funding

#ZeekHK #ZeekQuickCommerce #ZeekSolutions

HONG KONG, Sept. 29, 2021 /PRNewswire/ -- Southeast Asian Intelligent Logistics Tech Corp Zeek has raised US$7 million in a new round of funding, after the company acquired a Pre-A series funding of US$10 million last year. The latest funding in the second quarter of the year was backed by existing investors, joined by new investors including Far East Consortium International Limited (HKSE: 0035), iClick Interactive Asia Group Limited (NASDAQ:ICLK), and Malaysian Property Group Pacificland (Land Pacific Development), among others. With a total funding of US$25 million Zeek has raised, the company's valuation has more than doubled since last year. The new funding will be used for product enhancement, Southeast Asian markets expansion, and speeding up the partnership with clients in their evolution to the Quick Commerce (Q-commerce) era, an emerging market worth more than US$26 billion.

Established in Hong Kong in 2017, Zeek combines technology, big data and professional operational experiences in developing logistics solutions ranging from Quick Commerce logistics, food & beverage delivery, lifestyle services delivery to SaaS solutions – ZeekSolutions. Its wide-ranging services cater to the diverse needs of corporates, guiding them through digital transformation swiftly and seamlessly. Zeek has gained trust and confidence from clients, reflected in its five-fold increase in the no. of clients YoY. The latest funding from iClick, a leading enterprise and marketing cloud platform in China, will create synergy with ZeekSolutions, empowering clients to generate online traffic, conduct customer profiling and enhance product-customer targeting, thus maximizing sales efficiency and market competitiveness.

"Stay-at-home economy and e-payment has spurred the demand for instant delivery services and is leading e-commerce into its third generation of Quick Commerce," said KK Chiu, Zeek's Co-founder and CEO. "Zeek has come prepared, in our service products, experiences and delivery capacity, for the Quick Commerce era and the logistics demand arisen. Recently we've launched marketing campaign, targeting corporate clients, delivery partners as well as end-customers, and received enquiries regarding Quick Commerce transformation and how to get ahead in the market. This round of funding will be used to assist our clients from planning business, defining operating model to execution. Our ultimate goals are to help them to improve profitability and build a sustainable business."

Zeek's one-stop intelligent logistics solutions and outstanding business performance have attracted new investors including Far East Consortium International Limited, who shares Zeek's forward looking vision, enabling the company to expand their portfolio in Hong Kong and Southeast Asia. Zeek has successfully landed its business model to Vietnam, Thailand, Singapore and Malaysia via strategic partnerships. An exemplary example is its partnership with Golden Resources Development International Limited on the digital transformation of its Circle K Vietnam. The business shows a remarkable growth and will soon extend from Ho Chi Minh City to Hanoi, Vietnam's second largest city. The partnership with one of the largest F&B conglomerates in Thailand, has proven to be successful in Pattaya with significant improvement in order acceptance rate, completion rate, and delivery time. With the success, the service will extend to 71 provinces across Thailand within the year involving 1,500 outlets and over 5,000 delivery couriers. In Malaysia, Zeek has entered business agreement and piloted with one of the biggest and most popular pizza chains. Service will expand to its business network in Kuala Lumpur within Q4 this year.

Vincent Fan, Zeek's Co-founder and CSO adds: "With its intelligent logistics foundation, Zeek's technology innovation successfully broaden the services to a wide spectrum of new retail models and scenarios. Our one-stop solution – ZeekSolutions – enables clients to transform digitally, connecting end-to-end customers, orders and logistics. The past few years have seen a great leap in the advancement of big data analytics, data collection and consolidation. Zeek's third-generation services are constructed to befit Quick Commerce and new retail-related digital transformation advisory, empowering companies with data-driven strategies."