Online retailers have traditionally struggled to solve the problem of how to best deliver products to their end consumers. Solving this problem is one of our startups, Pakpobox.
They help e-merchants by improving their customer’s experience and by increasing the convenience factor, making delivery more affordable to end users and providing more delivery points to pick items up. And for couriers, they are reducing the logistic barrier by lowering the last-mile delivery cost.
Since joining Betatron in February, we’ve helped them to generate over US$700,000 in revenue and also close investment from a strategic partner, 4PX, who are able to add tremendous value to the business.
We’re also helping to expand Pakpobox’s network, globally. Over the past two months, they’ve extended their network in China, Macau, Malaysia, and Indonesia. With negotiations progressing in Malaysia, Taiwan, Estonia, Slovakia and Myanmar.
Pakpobox has also been expanding their network in Hong Kong and is on the lookout for further ideal locations to place their lockers in residential, retail, office buildings and serviced apartments.
Additional Revenue Streams
One of the focuses during our accelerator programme is to help our startups explore additional revenue streams. The team’s hard work is starting to pay off, as Pakpobox have just managed to secure their first advertising client, who will be placing adverts on their lockers in strategic locations around Hong Kong.
Enhancing the network even further is the next priority. To do so, they’re in the process of building a consumer-facing mobile app, with the help of our team here at IC Studio. The app will allow users to seamlessly interact with the locker network and even transfer their own items which can be stored in the lockers, peer to peer.
“I’m very proud of the traction we’ve been able to generate over the past few months since joining Betatron. Their network, industry knowledge and strategic advice have been invaluable to helping us progress the business.”
We specifically structured our accelerator programme so that each startup would get a lead mentor from one of our Venture Capital, Co-Founding partners, who ideally has expertise in their specific industry.
Pakpobox’s lead mentor is Roland Yau, Managing Director of CoCoon Ignite Ventures. Their investment portfolio already includes several companies in the E-Commerce sector, so assigning Roland to be their lead mentor has added significant value.
“We’re very excited about the potential of Pakpobox. With the continuous growth of E-Commerce in Asia, we feel that the last-mile delivery problem is one of the last in the sector to be solved and is an enormous opportunity.”
Managing Director, CoCoon Ignite Ventures