SCAngels investment to help Spaceship meet logistics needs of SMEs
Supply Chain Angels (SCAngels), the corporate venture arm of the YCH Group, is investing in Spaceship, a start-up offering next-generation urban logistics and space optimisation solutions.
SCAngels will also provide Spaceship with the ecosystem to thrive, giving it access to its infrastructure, expertise and contacts. YCH Group is the first large local enterprise (LLE) under the third installment of National Research Foundation’s (NRF) Early Stage Venture Fund (ESVF) to invest in a startup.
Consumers and SMEs alike are often challenged by expensive or limited space, sub-optimal inventory management and inefficient transport management of their goods. Available resources are often underutilised at businesses, and Spaceship aims to leverage on technology to allow for the effective use of these untapped resources.
With the potential to disrupt the self-storage industry, Spaceship offers on-demand, pay-as–you-use storage in various flexible plans offered to both individual users and businesses. Their service for physical storage aims to optimise both liveable and workable space, leveraging economies of scale and technology to offer cost effective solutions complemented by attractive value-added services.
Using web and mobile applications, Spaceship digitally handles the entire end to end process, from storage materials to transportation, providing a hassle free, customer friendly, experience for their users through this streamlined process.
Goods are stored in a highly secure facility, and with the exception of fragile items, are insured free of charge against fire and theft to guarantee peace of mind for users of the service. Users of the service simply have to make a click or two to get items returned to their offices or homes.
“On-demand storage represents an addressable market in Singapore. Yet, much of this market remains untapped. Spaceship is well-positioned to grow rapidly by bringing its services to SMEs and SOHOs in Singapore,” said Mr James Ong, Investment Committee Member at Supply Chain Angels.
“Spaceship is excited about the investment from SCAngels. With the investment, we can better enhance our technology stack and product to include features like smart scheduling for fleet management, real time sensors for temperature and humidity and enhanced inventory systems, among others. We believe that with the new enhancements, we’ll be able to meet the needs of SMEs and propel our business more swiftly in Singapore and beyond,” said founder and CEO of Spaceship, Mr Yeo Zhi Wei.