A logistics company has successfully secured a $2 million seed funding aimed at accelerating the integration of electric vehicles (EVs) into its fleet, marking a significant milestone in its commitment to revolutionize green logistics practices in the Philippines.
The funding, led by RT Heptagon Holdings (RTHH), underscores the growing momentum towards sustainable urban mobility. The investment is a testament to the company’s dedication to driving positive environmental impact while meeting the rising demand for eco-friendly logistics services.
With the infusion of new capital, the company has expanded its EV fleet to 60 vehicles, enhancing its capacity to provide efficient and sustainable delivery solutions. This strategic move aligns with global efforts to reduce carbon emissions and promote environmentally friendly practices in the logistics industry.
Additionally, the company has developed a Transport Management System (TMS) to optimize delivery efficiency and monitor the CO2 emissions savings achieved through the use of EVs. This initiative highlights the company’s commitment to transparency and accountability in environmental stewardship.
Looking ahead, the company anticipates further growth with an upcoming investment round expected to take place before the end of the first quarter of 2024. This additional funding will enable the company to scale up its green logistics initiatives and expand its footprint in the industry.
As the EV market in the Philippines continues to grow and government support for sustainable transportation increases, the company’s efforts are well-positioned to contribute to the country’s green transition. With its expanding fleet and innovative solutions, the company is poised to lead the way towards a more sustainable future in the logistics sector, not only in the Philippines but also in Southeast Asia.
