Rakuten Super Logistics Plus Logistics LLC to raise up to $1B in Series A
Posted On August 2, 2021
Rakuten has raised $1.4 billion in Series B funding, including $500 million from private equity firm Sequoia Capital, as the Japanese mobile phone manufacturer seeks to expand its logistics capabilities.
The $1 billion round will provide Rakuten with an additional $500m in Series C funding, as it expands into logistics.
Rakuten is also planning to raise an additional round of funding in 2018.
The startup, founded in 2001, now employs nearly 4,000 people in more than 200 locations around the world.
The company also sells smart phones, fitness trackers, and other accessories.
Rakutans main goal is to “empower the customer by offering a flexible and innovative product solution that is focused on the customer’s business needs,” according to its website.
Arakuten will be able to tap into existing markets, like the United States and Europe, and expand its business globally, CEO Hiroshi Mikami said at the time.
While the company is still in the early stages, it is aiming to create a new model for logistics by offering services and products to customers across a broad range of sectors, including retail, logistics, transportation, and health care.
The company’s plans will include “a range of products including smart devices, wearable products, and medical equipment, to expand Rakuten’s portfolio of products in the healthcare sector,” according a blog post on the company’s website.
Rukuten also said it is looking to acquire the logistics giant Ola, which is planning to buy logistics giant Rakuten.