UniUni Closes Oversubscribed US$50 Million Series C Round Led by DCM
Richmond, B.C., Canada—UniUni, one of the fastest growing tech companies in Canada, is pleased to announce that it has raised US$50 million in an oversubscribed Series C financing round led by global venture capital firm DCM. This is UniUni’s largest funding round to date and comes on the heels of it closing a US$20 million Series B2 round of financing in December 2023, led by leading Canadian tech investor, Celtic House Venture Partners.
A North American powerhouse in e-commerce last-mile logistics, UniUni has raised more than US$70 million in the last 4 months as it continues to disrupt the B2C last-mile delivery model with its logistics platform optimized for e-commerce and a variable-cost model for driver recruitment, dispatch and routing. UniUni ranked fourth in The Globe and Mail’s 2023 list of Canada’s Top Growing Companies, with a three-year growth rate of 12,854 per cent.
“These funds will be used to further develop our proprietary tech stack that powers our logistics platform and to grow our network of sorting centers as we continue to expand delivery coverage across the United States,” said UniUni CEO Peter Lu.
“At DCM, no matter what sector we’re investing in, we’re passionate about funding solutions that break through the noise and domination of larger players to deliver products and services that improve the way industries operate,” said Ramon Zeng, General Partner at DCM. “In just a few years, UniUni has emerged, embracing a new model of last-mile delivery that uses technology to provide the most reliable and cost-effective logistics service available, and we’re happy to support them as they continue expanding across the U.S. and North America.”
Founded in 2019, UniUni delivers tens of millions of parcels from coast to coast in Canada alone, and now boasts more than 50 high-capacity sorting centers in North America, including in Los Angeles, New York, Dallas, Miami and Chicago.
According to Pitney Bowes Parcel Shipping Index Report, 21.2 billion parcels were shipped in the U.S. in 2022. This equates to 674 parcels generated per second, or 58 million per day. Parcel revenue reached US$198 billion.
“The North American logistics market is ripe for innovation,” Peter Lu said. “The traditional logistics firms were born before the digital age, and their dated infrastructure cannot keep up with the accelerating demands of the e-commerce era. On a global scale, North American e-commerce is still at a very early stage, and we expect online retail to continue to grow and become the primary method of shopping for most Americans in the next five to 10 years.”
According to U.S. Census Bureau data, total e-commerce sales for 2023 were estimated at US$1.1 trillion—an increase of 7.6 percent from 2022—whereas the total retail sales in 2023 only increased 2.1 percent from 2022. E-commerce sales in 2023 accounted for 15.4 percent of total sales, (14.7 percent in 2022).
“UniUni’s rapid growth and strategic expansion uniquely position it to address the pressing demands of a new generation of e-commerce platforms, online retailers, and brands effectively,” Lu said.
About DCM
DCM is a global venture capital firm based in Silicon Valley, Beijing and Tokyo with over $4.2 billion under management. DCM has invested in more than 400 early-stage technology companies globally and provides hands-on operational guidance and a global network of business and financial resources. DCM has backed industry-leading companies, including 51job, 58.com, Bill.com, BitAuto, Careem (Uber), Dangdang, Fortinet, Freee, FuboTV, Happy Elements, Hims & Hers, Houchebang (ManBang), Gigacloud, Kakao Talk, Kuaishou, Matterport, Musical.ly (TikTok), Quantasing, Sling Media, Sansan, SoFi, TanTan, Tuniu, UCloud, Uxin, Vipshop, YSB, Weekend Health (Weight Watchers) and Wrike. DCM has also led investments in rising startups, such as Assured, Brigit, CADDI, Cherry, DXY, Enechain, EvenUp, Figure Technologies, Immersively, Linc’well, Litmatch, Magic Moment, Maimai, Plenty, Tempo, and YunQuNa. For more information, visit dcm.com.
About Celtic House Venture Partners
Drawing from its experience as one of Canada’s most active investors in technology and innovation, Celtic House works with exceptional founding teams to build category-leading companies. Celtic House engages with emerging teams with strong track records and a data-driven mindset to apply new, cloud-based technologies to the evolving needs of businesses. These collective efforts have created over 75 technology companies and have resulted in over 30 IPO and M&A transactions in the past 20 years.
About UniUni
UniUni is a leading technology-enabled logistics company revolutionizing the last-mile delivery landscape for the e-commerce industry. As a platform that seamlessly integrates advanced technology with efficient delivery solutions, UniUni enables businesses to provide a superior online shopping experience, ensuring unparalleled efficiency and customer satisfaction. Catering to a diverse range of clients—from emerging e-commerce platforms to established online retailers and brands—UniUni offers exceptional service across North America. Recognized as the fourth fastest-growing company in Canada, UniUni continues to set industry standards, offering a robust, customer-centric approach to e-commerce logistics. For more information, visit uniuni.com.