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Wednesday, November 29, 2023

Estonian digital logistics platform secures €1.25 million investment to expand its operations

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MyDello, an international logistics platform based in Tallinn, has secured €1.25 million in funding to expand its operations. The round was led by Superhero Capital, with participation from investors such as Yevgeny Kabanov, president of Bolt, and angel investors from the previous rounds. MyDello is a digital logistics platform that provides instant quotes, manages paperwork, and offers transparency, helping businesses simplify and optimize their international shipping operations. The investment will support its growth in the Baltic States and Sweden and enable entry into new markets like Finland and the Netherlands.

MyDello aims to modernize the logistics industry by introducing digitalization to international transport and reducing supply chain waste. The company’s platform offers instant quotes and manages all aspects of shipping, providing transparency and real-time tracking. MyDello’s goal is to simplify global shipping and reduce logistics costs for companies by 15-20%. It was founded by logistics professionals who saw the need for a more efficient way to manage shipments and offer competitive shipping options across various freight modes.

According to Magnus Lepasalu, one of the co-founders who has nearly two decades of experience in logistics, MyDello was created due to the disappointment of the absence of global digital logistics solutions in the industry.

“The logistics industry is in need of modernization as most information is communicated through emails and managing shipments remains a major challenge for logistics managers in industrial and wholesale companies. Many errors occur due to a lack of transparency in information. Our objective is to enhance the efficiency of global logistics by reducing waste in supply chains and introducing digitalization to international transport,” he explains.

“MyDello team’s extensive knowledge and dedication to achieve results within the logistics industry impressed us. The traditional methods of international freight forwarding are undergoing a revolutionary transformation, and MyDello’s digital platform is at the forefront of this change. The platform’s unique feature of generating offers within seconds increases efficiency and convenience for all parties involved while reducing costs. It’s worth noting that the logistics market is huge, with an annual turnover of €10 trillion,” said Jussi Pyörre, one of the partners at Superhero Capital.

“I’m glad they took the challenge to resolve the logistical deadlock many companies face. A team that can be trusted blindly because they have already managed to do great things in the same sector” added Yevgeny Kabanov.

Click to read more funding news.

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Nurcin Metingil
Nurcin Metingil
A permanent student, a passionate first reader and nowadays doing master’s degree in Publishing Management. Beside these, I am up for games! I have been playing games since I was 6. Now, I am whispering "Business. Business. Numbers. Is this working?"

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