MTR Lab and Hong Kong Cyberport are investing in Hong Kong-based startup alfred24 with an eye on expediting the development of sustainable logistics for last-mile delivery.
Founded in 2014, alfred24 (formerly known as Pakpobox) specialises in automated parcel lockers and software solutions for locker networks and carriers. The company provides plug-and-play, scalable logistics solutions that multiply the efficiency of a single courier. It runs a network of 9,000 pickup points in Hong Kong, Indonesia, Italy and Brazil.
MTR Lab anticipates a fruitful long-term partnership with alfred24, with the first milestone of this co-investment set to be realised in late 2023 when the start-up is expected to launch its Bluetooth Low Energy lockers – battery-powered smart locker models that are the first of their kind in Asia-Pacific.
alfred24 will also be releasing an AI-powered software for scouting and analysing new installation locations, and optimising fleet routing to reduce CO2 emissions and promote a greener, more sustainable way of delivering parcels.
"This co-investment brings MTR Lab’s brand values to life; we start small, but think big – just like the alfred24 team," said Michael Chan, managing director at MTR Lab.
“The innovative alfred24 solution is changing the e-commerce logistics landscape, cutting time, costs and carbon out of the commercial delivery cycle.”
Michael Chan, MTR Lab
“We are excited to join hands with a like-minded network partner like Cyberport to help alfred24 take their business to the next level and enrich the lives of everyone in our community,” Chan added.
This is the first co-investment venture between MTR Lab, a subsidiary of MTR Corporation, and Cyberport under their strategic alliance that was formed in June last year. MTR Lab is working directly with Cyberport to invest in high-potential start-ups from within Cyberport’s startup ecosystem that suit MTR’s business needs.
Expansion plans
The co-investment will enable alfred24 to expand its footprint in Hong Kong with to double its presence in the city to over 2,000 locations.
Also, as a result of the funding from MTR Lab and Cyberport, alfred24 is set to expand its business into the Greater Bay Area and launch into at least one other Southeast Asian country by 2025.
“As an incubator of entrepreneurship in Hong Kong, Cyberport is pleased to see authentic investor-investee connections being made,” said Peter Yan, chief executive officer of Cyberport.
Cutting carbon emissions and reducing delivery hasslesP
The start-up will invest in sustainable solutions such as battery and solar-powered Bluetooth lockers to optimise its best-in-class technology, enhance the user experience and reduce carbon emissions related to last-mile delivery by 70%.
“Achieving sustainability and carbon neutrality has always been one of Cyberport’s top priorities and we encourage start-ups to incorporate green elements into their solutions. I believe this co-investment will be a booster to Hong Kong’s e-commerce logistics sector, and further drive the development of smart city and smart mobility."
Peter Yan, Cyberport
With an existing base of white label customers in 14 markets including Hong Kong, Indonesia, Malaysia, Singapore, Australia and the United Kingdom, this co-investment will further empower alfred24 to leverage its owned technology solutions and scale-up its business network in Hong Kong, while also expanding its white label business into other markets.
"Traditional e-commerce logistics requires the equivalent of 17 CO2-emitting vans per 1,000 deliveries, while alfred24 requires the equivalent of just four," said Christian Secci, co-founder and CEO of alfred24.
“We are pleased to have MTR Lab and Cyberport as our new investors. They are adding a lot of strategic value to our business growth journey, helping us make Hong Kong a more sustainable city.”
“With our innovative parcel lockers, residents can soon shop until 8 pm and collect their parcels as early as 8 am from any convenient alfred24 collection point along their daily commuting journey, reducing the need for daytime deliveries and cutting 13 vans for every 1,000 deliveries."
Christian Secci, alfred24
