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B.C. parcel-delivery company UniUni raises US$20M

Fast-growing venture touts "hundredfold" revenue growth in past few years
UniUni has more than 50 distribution centres in the U.S. | @Inc_uni on X (formerly Twitter)

B.C.-based last-mile delivery company UniUni has raised US$20 million from a consortium of investors led by Celtic House Asia Partners, the company has announced.

This comes on top of US$40 million raised in previous financing rounds.

The four-year-old company, headquartered in Richmond, delivers tens of millions of parcels annually across Canada, and in the past year has rapidly expanded into the U.S., it said today in a news release. It operates more than 50 distribution centres in cities such as Los Angeles, Dallas, Miami and Chicago, the company said.

Its plan is to use the money to increase capacity, efficiency and accuracy by automating sortation centres at strategic locations across the U.S.

UniUni touts having "hundredfold" revenue growth in the past few years, and the company was on the Globe and Mail's 2023 list of fast-growing Canadian companies, with a three-year growth rate of 12,000 per cent, in a time period that would have ended in 2022.

UniUni did not disclose how much revenue it generated in its most recent fiscal year, or if it is profitable.

"The penetration rate of e-commerce in North America has always been dragged down by expensive and slow logistics, and we believe that there will definitely be logistics companies specifically serving e-commerce that will disrupt the traditional logistics industry," said Celtic House Asia Partners' managing partner Jie Chen. 

Other investors in the $20-million financing include Vision Plus Capital, Fosun RZ Capital, Celtic House Venture Partners and Lanchi Ventures.

“UniUni has proven itself in Canada, and we’re extremely confident it can do the same in the U.S., which is why we’re investing in them again,” said David Adderley, partner at Celtic House Venture Partners. 

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