Richmond, B.C.-based delivery startup UniUni has raised US$70 million from a slate of new and existing investors to expand its last-mile delivery business, the company has confirmed to The Logic.
The raise is the company’s third financing round in less than a year, after securing US$70 million in July 2024 and another US$30 million in November. The round was co-led by California-based Bessemer Venture Partners, which first invested in UniUni last July, and Beijing’s Sinovation Ventures, a first-time investor in the firm. Details of UniUni’s latest fundraising were contained in a recent SEC filing and in PitchBook data reviewed by The Logic.
The deal brings UniUni’s total financing to US$202 million—which includes backing from Alibaba’s venture capital business—since launching in 2019, PitchBook data shows.
Talking Points
- Richmond, B.C.-based UniUni has raised a US$70-million investment round led by California-based Bessemer Venture Partners and Beijing’s Sinovation Ventures
- It’s the third financing deal in less than a year for the company—which provides last-mile delivery for online retail giants like Shein, TikTok and Temu—bringing its total funding to US$202 million since launching in 2019
U.S. investors Redpoint Ventures, Brightway Future Capital, DCM Ventures and LFX Venture Partners also participated in the latest round, along with Chinese firms Vision Plus Capital, Joy Capital and Hong Kong-based MindWorks Ventures. Celtic House Venture Partners was the sole Canadian investor in the round.
Founded by Peter Lu and Kevin Wang in 2019, UniUni provides last-mile delivery for online retail giants, including China-founded Shein, AliExpress, TikTok and Temu. The firm, which has more than 80 warehouses across North America, has quickly become the logistics firm of choice for fast and budget online retailers. In 2023, the company told The Logic that it delivered more than 300,000 packages and logged $52 million in revenue that fiscal year. At the time, UniUni was planning an IPO for late 2025 or early 2026.
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“Our investors share our belief in what UniUni is building—a more connected, tech-enabled last-mile network designed for the future of commerce,” Lu said in an email to The Logic. “Their support is helping us scale thoughtfully across North America to meet growing demand.”
The company’s rise hasn’t been without growing pains, many related to the apparent human cost of delivering packages quickly and cheaply. In December 2024, The Information reported that UniUni faced several lawsuits in the U.S., including two proposed class action suits, which claim the company underpaid drivers and misclassified workers as contractors. In May 2024, the publication reported that police found UniUni workers sleeping in a company warehouse in Connecticut amid gruelling conditions.
PitchBook’s database shows that UniUni plans to use the US$70 million to, among other things, “promote the integration of AI and logistics” and “upgrade automated sorting equipment.” The money will also help the company “strengthen the distribution network in the United States and Canada, and consolidate the industry’s leading position.”
Correction: UniUni’s total financing is US$202 million. This story has been updated.
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