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On-demand logistics startup Lalamove raises $300M for Asia growth and becomes a unicorn – TechCrunch

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Lalamove, a Hong Kong-based on-demand logistics startup, has closed a $300 million Series D round as it seeks expansion across Asia. In doing so, the company has officially entered the unicorn club.

Founded in 2013 by Stanford graduate Shing Chow, Lalamove provides logistics and delivery services in a similar style to ride-hailing apps like Uber but it is primarily focused on business and corporate customers. That gives it more favorable economics and a more loyal customer base than its consumer-focused peers, who face discount wars to woo fickle consumers.

This new round is split into two, Lalamove said, with Hillhouse Capital leading the ‘D1’ tranche and Sequoia China heading up the ‘D2’ portion. The company didn’t reveal the size of the two pieces of the round. Other investors that took part included new backers Eastern Bell Venture Capital and PV Capital and returning investors ShunWei Capital — the firm founded by Xiaomi CEO Lei Jun — Xiang He Capital and MindWorks Ventures .

The deal takes Lalamove to over $460 million raised to date, and it follows a $100 million Series C that closed in late 2017. Lalamove isn’t disclosing a valuation but Blake Larson, the company’s head of international, told TechCrunch that it has been “past unicorn mark for quite some time [but] we just don’t talk about it.” That figures given the size of the round and the fact that Lalamove was just shy of the $1 billion mark for that Series C.

The Lalamove business is anchored in China where it covers over 130 cities with a network of over two million drivers covering vans, cars and motorbikes.

Beyond China, Lalamove is present in its native Hong Kong — where Uber once briefly tried a similar service — Taiwan, Vietnam, Indonesia, Malaysia, the Philippines and Thailand, where it works with popular chat app Line. All told, it covers 11 cities outside of China and this new capital will go towards expanding that figure with additional city launches in Southeast Asia and entry to India.

“If we do this well, then we are in countries that are more than half the world’s population,” Larsen said in an interview, although he didn’t rule out the potential for Lalamove to expand beyond Asia in the future.

There are also plans to grow the business in mainland China in terms of both geography and new services. Already, Lalamove has begun to offer driver services, starting with financing packages to help drivers with vehicle purchasing, and it is developing dedicated corporate offerings, too.

Lalamove CEO Shing Chow started Lalamove in late 2013, his past roles have included time with Bain & Company, a number of startup ventures — including a Hong Kong-based skin center — and a stint as a professional poker player

Overall, the business claims to have registered 3 million drivers to date and served more than 28 million users across all cities. With its headquarters in Hong Kong, it employs some 4,000 people across its business.

Rival GoGoVan exited through a merger with China-based 58 Suyun in 2017, at a claimed valuation of $1 billion, but Lalamove has remained independent and stuck to its guns. Larson said that already it is profitable in “a significant amount” of cities and typically, he said, the blueprint is to reach profitability within two years of opening a new location.

“The focus has always been on sustainable growth and we’re very strong on the cash flow front,” the former Rocket Internet executive added.

Larson and Lalamove have been very forthcoming in their desire to go public in Hong Kong, noting so publicly as early as 2017 at a TechCrunch China event in Shenzhen. That desire is still evident — “we’re very proud to be from Hong Kong and Hong Kong would be a good place for an IPO,” Larson said this week — but still the company said that it has no particular plan on the cards, despite its consumer-focused peers Uber and Lyft lining up IPOs in the U.S. this year.

“We don’t spend maybe even five minutes a year talking about it,” Larsen told TechCrunch. “The discussion is really ‘Let’s make sure we’re IPO ready’ because sometimes there are macroeconomic conditions you can’t control.”

Clearly, investors are bullish and it is notable that Lalamove’s new round comes at a time when many Chinese companies are downsizing their staff, with the likes of Didi, Meituan and JD.com announcing cuts and refocusing strategies in recent weeks.

“[Lalamove CEO and founder] Shing is a role model for Hong Kong’s new generation of innovative entrepreneurs,” said Sequoia China founder and managing partner Neil Shen. “Raised in Hong Kong and educated at Stanford University, Shing returned and plunged himself in the entrepreneurial wave of ‘Internet Plus,’ becoming a figure of entrepreneurial success.”

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Garmin Venu 2 smartwatch is the do-all fitness tracker

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The Garmin Venu 2 smartwatch will cost you approximately $400 – let’s talk about why. The Garmin Venu 2 does everything the original Venu does, but ALSO adds an array of new features. This watch works with GPS (and GLONASS, GALILEO), heart rate monitor, barometric altimeter, compass, gyroscope, accelerometer, thermometer, ambient light sensor, pulse ox blood oxygen saturation monitor, and a battery time of up to 10 days in smartwatch mode. It has a touchscreen, color display, and is able to connect to Android and iOS devices.

In addition to the features included in the original Venu, this device is available in two distinct sizes and multiple colors. This version has “enhanced battery life” with both rapid recharging and a battery saver mode – which for the Venu 2 means it’ll have up to 11 days of up-time, and the 2S rings in at 10 days (both in smartwatch mode).

This series also has new HIIT workouts with on-screen animations, as well as activity profiles for HIIT, hiking, bouldering, and indoor climbing. Venu 2 works with Health Snapshot to record and share health stats, and has a “Fitness age” system.

With the fitness age system, the watch “estimates the body’s age” given activity, resting heart rate, chronological age, and either body fat percentage (if you’ve got a Garmin Index scale) or BMI. The Venu 2 also adds new sleep score and insights with Firtbeat Analytics. Below you’ll see a presentation video from Garmin about this new Garmin Venu 2 series.

The Garmin Venu 2 has a 45mm watch case and a 22mm band. The Garmin Venu 2S has a 40mm watch case and an 18mm band. The bands work with “industry-standard quick release” silicone band connections, and the watch has a stainless steel bezel.

The display is an AMOLED touchscreen panel protected with Corning Gorilla Glass 3. If you’re looking at the Venu 2S, you’ll have a 1.1-inch diameter display with 360 x 360 pixels. The Venu 2 has a 1.3-inch diameter display with 416 x 416 pixels. Both have 5 ATM water ratings, meaning they’re able to withstand pressure equivalent to a depth of 50 meters. That means you’ll be protected against splashes, showers, diving, snorkeling, swimming, and your basic rain and snow.

Both the Garmin Venu 2 and Garmin Venu 2S will cost you approximately $400 USD. These watches were made available for purchase through Garmin (dot com) starting this week.

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iOS 15 features could include Apple’s big notification upgrade

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Apple’s iOS 15 and iPadOS 15, its upcoming major software refreshes for iPhone and iPad, will include a significant rework of how notifications are handled, according to a new report, potentially addressing a growing criticism of alert overload on mobile devices. The two new OSes – one designed for phones, the other for tablets, after Apple opted to cleft development in two – are expected to be previewed at WWDC 2021, the company’s annual developer event in early June.

Notifications and the Lock Screen in general has increasingly become a point of contention for iOS and iPadOS users. In the early days of the iPhone platform, Apple’s treatment of each notification as a separate block made sense; more recently, however, with a dramatic uptick in the number of apps and services wanting to push out their respective alerts to users, the Lock Screen has arguably become unruly and it’s easy to potentially miss a notification.

Apple has finessed the UI over the years, including grouping notifications by app, and there are settings which can control whether software can show a full notification or a more fleeting one. All the same, chatter of a revamp has been around for some time, and it seems iOS 15 and iPadOS 15 will be when it lands.

Users will be able to set different notification preferences, based on their current status, sources tell Bloomberg. That could include whether their iPhone or iPad makes a noise. Unlike the current, fairly blunt “Do Not Disturb” or driving modes – the latter which can automatically activate when the iPhone is in CarPlay mode in a vehicle – there’ll be multiple settings supposedly accessed via a new menu.

For example, users could set that they’re working, sleeping, driving, or a custom category – such as exercising – with a different set of notification preferences for each. That menu will be accessible from the new Lock Screen as well as in the Control Center. Automatic message replies, as are currently supported in driving mode, will also be supported for each status.

For iPadOS 15 specifically, there’ll be new Home Screen options. The widgets that Apple added to iOS 14 last year, which can be intermingled with regular icons on the Home Screen, will be expanded to iPadOS 15 it’s suggested. Currently, iPad widgets are corralled into a separate pane.

Both iOS 15 and iPadOS 15 will also expand Apple’s focus on privacy, the sources say. There’ll be a new menu which lists all of the personal data being collected and shared by apps, in part of an attempt to make more clear what information may be gathered in the background. It follows new rules Apple has applied to developers around disclosing data sharing policies and more.

Finally, there are said to be changes afoot to iMessage, Apple’s messaging platform. Though possibly not arriving in time for WWDC 2021, the updates are believed to be with a mind to making iMessage more of a social network than it is now, though exactly how that would operate is unclear at this stage.

WWDC 2021 kicks off on June 7, and – like last year – will be held entirely online rather than as an in-person event. Registration is open now, and unlike in previous years will be free and uncapped in number to developers.

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AppleCare+ plans can now be extended for longer than 36 months

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Anytime someone buys a new Apple product such as an iPhone, iPad, Apple Watch, or Mac, they often buy the AppleCare+ extended warranty. That warranty covers the devices for all manner of accidental breakage and other issues. Apple recently announced that in Australia, Canada, Germany, Japan, the UK, and the US, owners who originally purchased AppleCare+ can renew their coverage for longer than was previously allowed.

Users are required to purchase their new coverage within 30 days of the date of their original coverage ending. Users who pay monthly or annually for AppleCare+ don’t need to take any action to renew their plans. Plan coverage can be continued beyond 24 or 36 months on a monthly or annual basis until the user cancels the coverage.

Apple does note that users who choose to continue their coverage will be subject to the current AppleCare+ terms and conditions. Buyers in China who purchased 24 months of coverage upfront will be able to continue coverage on an annual basis when their 24-month initial period is over. Those who paid annually will renew annually each year until they cancel.

Users in China can renew within 30 days of the end date of their current coverage. The coverage end date can be found in “settings – general – about” where they can tap the AppleCare+ Coverage Available option and follow instructions to register. Users can follow the “settings – general – about” path and then tap the name of their AppleCare plan to see when their coverage expires.

Coverage can also be verified on the mysupport.apple.com website. Expiration dates are also noted in the Proof of Coverage or Plan Confirmation message sent when the AppleCare+ plan was initially purchased. Apple outlined the steps on its support page with an updated document published on April 20.

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