Heart Capital Leads Pre-A Round of Tens of Millions of RMB for "Xiyunda," Building a Full-Chain End-to-End Cross-Border Logistics Network | HeartStar PORTFOLIO

GoLucky, a digital cross-border logistics service provider for emerging markets, recently closed a Pre-A funding round worth tens of millions of RMB.

The round was led by Heart Capital and Prologis, with existing investor Shenjian Capital participating.

Yanchen Liu, partner at Heart Capital, said: "We're very focused on and optimistic about the opportunities created by Chinese brands going global. But cross-border logistics is far from as simple, cheap, and reliable as domestic express delivery. This is a pain point for cross-border sellers, overseas buyers, and brands expanding internationally — and also an opportunity. The GoLucky team is dedicated to building a cross-border logistics network from China to Southeast Asia. Their 'late delivery guaranteed compensation' ocean freight service, launched right after the company's founding, has received positive customer feedback, and their rapidly growing monthly performance is the best proof. Cross-border logistics ultimately comes down to having good products, and good service requires meticulous operations. Technology and intelligence are the means to reduce costs and improve efficiency. We're very optimistic that GoLucky will carve out its own place in the Southeast Asia cross-border logistics landscape."

Founded in June 2022, GoLucky focuses on serving inventory-holding Chinese cross-border e-commerce sellers, providing them with more efficient warehouse-to-warehouse full-chain international trunk line and overseas warehouse fulfillment services. Through its self-developed full-chain digital logistics supply chain system and refined fulfillment operations capabilities, GoLucky improves cross-border logistics delivery times, lowers the barrier to entry for cross-border logistics sellers, and makes cross-border logistics as transparent, trackable, and predictably timed as Chinese domestic express delivery — significantly shortening cross-border sellers' inventory preparation cycles and improving operational turnover efficiency. GoLucky is committed to building an efficient and stable Asian cross-border logistics network.

Cross-border e-commerce can be roughly divided into two types. The first is cross-border stores, where Chinese merchants operate from China and consumers receive their orders via air freight small parcels. The second is local stores, where overseas distributors operate shops abroad; goods from China are first shipped in bulk to overseas warehouses, then delivered to consumers from there. From shipment to receipt, the former takes 5-7 days, while the latter only requires 2-3 days.

In recent years, Chinese cross-border e-commerce has developed rapidly, especially in emerging Southeast Asian markets where cross-border trade demand has increased. According to a 2022 report by Google and Temasek, Southeast Asia's cross-border e-commerce market could reach $131 billion, with 60% of goods coming from China. Comprehensive calculations show that the market space for Chinese cross-border e-commerce sellers using warehouse-to-warehouse international trunk lines and overseas warehouse services to stock inventory in Southeast Asia could reach $11.8 billion, while the overall market demand for cross-border logistics across Belt and Road emerging markets exceeds $200 billion.

Against this backdrop, consumers are demanding faster trade timelines, but rising trade protectionism has extended cross-border shipping times. Since supply chain and e-commerce operations talent are predominantly based domestically, more and more merchants are choosing to pre-stock inventory in overseas warehouses to reduce costs and shipping times.

Traditional international ocean freight requires a certain cargo volume before shipment. When a merchant's cargo volume is small, they must wait to "consolidate containers" with other merchants, making shipping timeliness and reliability impossible to guarantee.

Unlike traditional international logistics companies, GoLucky prioritizes improving shipping speed for inventory-holding sellers, dispatching containers immediately regardless of whether they're full. When selecting shipping space, the company prioritizes direct routes and carriers with high on-time performance rates to minimize cargo dwell time. In destination countries, GoLucky works with leading local customs clearance companies for priority clearance, and uses high-quality local trucking fleets to efficiently complete container unloading and delivery, getting goods to customers' designated warehouses faster.

GoLucky's efficient logistics services meet cross-border e-commerce's demands for speed and reliability. At scale, its prices are currently lower than typical competitors as well. On improving delivery certainty, GoLucky pioneered Southeast Asia's "guaranteed ocean freight delivery time" service, reducing merchants' inventory preparation time from 30-40 days to 15-20 days. This shortens sellers' inventory cycles, increases their annual inventory turnover, and improves ROI. With leading performance on both price and speed, an increasing number of inventory-holding cross-border e-commerce sellers are adopting GoLucky's services. Currently, GoLucky's business revenue is growing month-over-month at over 30%.

The company's main business consists of two segments. The first is warehouse-to-warehouse full-chain international trunk line network, which is currently the core business. GoLucky has established relatively mature, efficient, and stable transportation networks in the Philippines, Thailand, and Malaysia, with certain advantages in pricing, scale, and delivery speed. The company is currently expanding its Indonesia service routes and plans to extend its trunk line network from Southeast Asia to other emerging market countries within the next year or two.

The second is overseas warehouse network. GoLucky has successively built self-operated overseas warehouses in the Philippines, Malaysia, and Thailand, dispatching professional warehouse management experts to locally manage facilities and build local teams. Currently, its warehouse receiving and shelving times, outbound times, and pickup times significantly outperform local service providers. Given that nearly all customers using the company's international trunk line logistics services also have overseas warehouse needs, GoLucky's overseas warehouses are currently in a state of supply shortage, and the company is actively planning to expand this business.

For China's domestic express delivery industry, online ordering, estimated delivery times, and real-time transparent node tracking are commonplace. Yet very few international trunk line network service providers can simultaneously achieve all three, with most using lower-efficiency methods like Excel and WeChat for coordination — making it one of the few industries yet to achieve digitization.

GoLucky seized this opportunity to build a complete set of digital process control systems. Even individual customers can obtain real-time quotes and place orders through the online platform. The user interface displays estimated delivery times, real-time trajectory monitoring, and inventory distribution, allowing customers to prepare promotional activities in advance based on goods arrival and shelving times.

Furthermore, this digital network achieves SKU-level transparency. Traditional cross-border e-commerce merchants can know the revenue split between platform and merchant, and the split for different goods within the same order, but cannot know the fulfillment cost breakdown from procurement through shipping. GoLucky's underlying digital platform unblocks this process.

For large customers with mature systems, API integration with GoLucky's digital platform is available.

Currently, GoLucky's core customer base consists of inventory-holding Chinese cross-border e-commerce merchants. Their characteristic is that both the sender and receiver are the seller's own personnel, making them particularly in need of an easy-to-use end-to-end full-chain cross-border logistics fulfillment service provider like GoLucky. Additionally, Chinese brands going global and assembly factories relocating overseas represent future core customer segments for GoLucky.

GoLucky's CEO, Rongchang Liu, is an industry veteran and serial entrepreneur who previously worked at Maersk, Alibaba.com, Cainiao International, and World Logistics. With deep expertise in cross-border logistics, he discovered upon entering the cross-border e-commerce sector that no logistics service existed offering the high speed and high reliability that sellers needed. This caused many inventory-holding cross-border e-commerce sellers to have their store and product listing weights severely impacted by cross-border fulfillment performance, leading him to found GoLucky to address this pain point. Other core founding team members primarily come from Alibaba.com, Cainiao, Ant Group, and Tmall, combining expertise in cross-border logistics, payments, and cross-border e-commerce. It is precisely this entrepreneurial team — with both vision and hands-on operational experience, driven by passion and hope for cross-border and international expansion — that is working hard to fulfill the vision of "building an efficient and stable Asian logistics network."

Source | 36kr Author | Yu Jinglin Editor | Yang Xiao

Founded in 2022, Heart Capital is a China-based early-stage venture capital fund focused on technology and digitalization, established by Yan Han, formerly a founding partner at Lightspeed. The Heart Capital team consists mainly of founding partners, the CFO, and core investors from Lightspeed, as well as senior industry investors from Cainiao and Baidu. The team's past investments include Series A investments in Full Truck Alliance (NYSE: YMM), Xpeng Motors (NYSE: XPEV, HK: 09868), as well as FinVolution (NYSE: FINV), 06810.HK, RoboSense, World Logistics, LandSpace, Lanhu, Micro-nano Starry Sky, and Starfield, among others. Rooted in China with a global perspective, Heart Capital is dedicated to finding world leaders who will disrupt the future. Heart Capital advocates the value of "people" and "heart," and looks forward to accompanying more young Chinese entrepreneurs onto the world stage.