BlueRun Ventures Portfolio | North American Logistics Company UniUni Closes $50 Million Series C, BlueRun Ventures Continues to Double Down

UniUni, one of the fastest-growing tech companies in North America, today announced it has completed a $50 million Series C round led by global venture capital firm DCM, with oversubscription. Existing shareholder BlueRun Ventures participated in the follow-on investment. This comes just four months after UniUni's December 2023 announcement of a $20 million Series B2 round led by Canadian tech investment firm Celtic House Venture Partners. BlueRun Ventures led UniUni's Series A and has continued to increase its stake across multiple subsequent rounds.

BlueRun Ventures stated: "Globalization + technology" is one of our most important investment themes. UniUni has keenly identified the unique logistics demands created by North America's rapid e-commerce growth, and leveraged technology to quickly build a delivery network covering the entire US and Canada — with clear advantages across the three metrics customers care about most: price, speed, and delivery success rate. As the lead investor in UniUni's Series A, BlueRun has now made its fourth consecutive follow-on investment, with the goal of supporting UniUni as it grows into a world-class company for the new era.

As an innovator in North American e-commerce last-mile delivery, UniUni will continue to disrupt B2C final-mile fulfillment through its e-commerce-optimized logistics platform and its variable-cost model for driver recruitment, dispatch, and route optimization. UniUni also ranked #4 on The Globe and Mail's 2023 list of Canada's fastest-growing companies, with a three-year growth rate of 12,854%.

Peter Lu, CEO of UniUni, said: "As we gradually expand delivery coverage across the United States, these funds will be used to further develop our proprietary technology powering the logistics platform, while continuing to expand our sorting center network."

Founded in 2019, UniUni has already completed tens of millions of annual parcel deliveries within Canada alone. It currently operates over 80 high-volume sorting centers across North America, located in Los Angeles, New York, Dallas, Miami, and Chicago.

According to the Pitney Bowes Parcel Shipping Index, US parcel volume reached 21.2 billion in 2022 — equivalent to 674 packages per second, or 58 million per day. Parcel revenue hit $198 billion.

Peter Lu said: "North America's logistics market desperately needs innovation. Traditional logistics companies were born before the digital age, and their outdated infrastructure simply cannot keep pace with the growing demands of the e-commerce era. Globally speaking, North American e-commerce is still in a very early stage. We expect online retail to continue growing and become the primary shopping method for most Americans over the next five to ten years."

US Census Bureau data shows that estimated e-commerce sales for full-year 2023 reached $1.1 trillion, up 7.6% from 2022, while total retail sales in 2023 increased only 2.1% year-over-year. E-commerce sales accounted for 15.4% of total sales in 2023, compared to 14.7% in 2022.

Peter Lu believes, "What makes UniUni unique is that its rapid growth and development strategy effectively addresses the urgent needs of a new generation of e-commerce platforms, online retailers, and brands."

👇 Seeking funding or partnership? Long-press the QR code below 👇 Add BlueRun's "Xiaochi" on WeChat to connect with us directly.

▶ More Content ◀

Founded in 2005, BlueRun Ventures is a venture capital firm focused on early-stage startups. The firm currently manages multiple USD and RMB dual-currency funds in China, with assets under management exceeding RMB 15 billion, making it one of the largest early-stage funds in the country. BlueRun invests primarily at Pre-A and Series A stages, across technology, consumer, and healthcare sectors. It has backed nearly 200 startups to date, including Li Auto, Waterdrop, QingCloud, Guazi.com, Qudian, Ganji.com, Energy Monster, Gaussian Robotics, Songguo Mobility, YTMicro, Machenike, CloudSaints, Anxin Netshield, and BioMap.

BlueRun Ventures has been ranked #1 on Zero2IPO's "China Top 30 Early-Stage Investment Institutions" and ChinaVenture's "China Best Early-Stage Venture Capital Firms TOP30," and was named to Preqin's Top 10 global VC fund managers for consistent high returns.

The firm has also received consecutive honors from Forbes China, 36Kr, Cyzone, Caixin Media, CBNweekly, Jiemian, and other media organizations, including "China's Best Early-Stage Firm of the Year," "China's Top Venture Capital Firm," "Most Entrepreneur-Friendly Early-Stage Firm of the Year," and "Most Influential Early-Stage Firm of the Year."