PTI—  Singapore-headquartered logistics-tech startup Ezyhaul said it has raised USD 16 million in funding that it will use to expand to new markets in South Asia and drive further technological innovation.

The company, which has presence in India and Thailand as well, did not disclose the names of the investors who participated in the series B round.

Founded in Singapore in April 2016, Ezyhaul focuses on improving efficiencies in the highly fragmented USD 150 billion-road freight industry in South Asia.

“In the past 12 months, Ezyhaul has grown more than 900 per cent after successfully completing its USD 5 million series A fundraise in 2018.

Ezyhaul has since taken the time to reinforce its presence in South Asia, included expanding its operations in India and Thailand, and with also integrating a cross border solution that currently stretches from China to Singapore,” a statement said.