Moovaz bags undisclosed fund to make relocation easier
Moving from one country to another can be really stressful because this involves transporting a lot of goods - from luggage to furniture. One Singaporean startup wants to help make that process less of a headache. Moovaz is an online international relocation platform that aids in either home or office relocations. It offers transport services, accommodations and telecommunication services and can even help clients with cleaning, plumbing, and repair services of the new space.
“The challenge would be that you know the nature is changing. The sort of people that are moving now are younger. So the nature of moves are changing, but the industry itself is growing. So that’s an opportunity for us,” Junxian Lee, chief executive officer at Moovaz.
It also allows users to input the origin of move, the destination and how much stuff is being relocated. The company then aggregates services which the person can use from their database. It also involves a survey where users can specify items like cabinets, appliances, furniture and other custom items. After the delivery details are finalised, a Moovaz employee will contact the person and guide them through the relocation process.
In February, Moovaz secured an undisclosed amount of investment from Hustle Fund, a venture fund investing in early-stage startups in the US, Canada and Southeast Asia, according to a company statement. The new funding comes around six months after Moovaz’s seed round, in which it raised US$1M from a group of investors, including key personnel from Ong Beng Seng’s family office fund, Mojo Partners as well as senior operating executives from undisclosed American and Chinese unicorns.
In the recent funding round of logistics startup Moovaz, Lee admitted that it was quite challenging talking to venture capitals about it as logistics technology companies may not be seen as attractive. The funds they received will be used as a lift-off for their international expansion, starting with Australia Lee cited a number of reasons as to why they chose Australia. First, the country’s market size complements how relatively young the company is.
“We have to be very careful with the resources we have. So operationally, we might not be best equipped to handle like a very, very large number of moves. We can potentially handle a smaller number of larger margin moves so as a strategic decision, Australia can make sense,” Lee said.