SINGAPORE (Apr 19): Park N Parcel (PNP), a last-mile logistics start-up under NUS Enterprise’s portfolio, concluded its Mar 2018 seed round investment with $850,000 of seed funding led by Far East Ventures-backed Tri5 Ventures and a group of angel investors.

Established in Jan 2017, the start-up was founded to help eliminate missed parcel deliveries by allowing online shoppers to collect their purchases from a pool of “Parkers”, namely individuals or retail stores that have registered themselves to help collect parcels on behalf of their neighbours.

The parcels can weigh a maximum of 8 kg, with a maximum cumulative cubic dimension of 100 cm.

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