Mily Technologies, a delivery analytics platform tailored for parcel delivery company, has announced it has successfully closed its Pre-Seed round of €1m (US$1.06m) that will enable it to expand across Europe and grow the team. The funding round was led by South Central Ventures and supported by a non-equity grant from Katapult Accelerator.
Parcel delivery companies experience intense challenges, with billions of parcels delivered worldwide and recipients’ expectations increasing. Using multiple legacy tools to process such complex data leads to information fragmentation and failure to make data-informed decisions, according to the company. “Delivery networks were not designed for today’s e-commerce environment. Even less for what is ahead in the next 5-10 years,” said Aleksandar Buha, Mily Technologies’ co-founder and CTO.
The ability to withstand parcel volume highs and lows and workforce fluctuations, and cope with day-to-day challenges, requires more from last-mile professionals than ever before. They must process vast amounts of data quickly and make informed decisions in a fast-paced environment that is constantly changing due to various factors. As a result, parcel delivery companies are forced to rethink their strategies and invest in new technologies and approaches to meet the demands.
Mily Tech aims to address this problem. The delivery analytics platform combines location intelligence with business analytics, helping parcel delivery companies reach breakthrough performance. Last-mile professionals can quickly identify possibilities for reducing costs, improving delivery processes, and confidently growing their out-of-home networks.
“Being newcomers to the industry forced us to ask a lot of questions to get a deep understanding of the space. This approach led us to create a unique solution on the market. Over the last two years, we’ve accumulated a wealth of information and ideas from our customers and partners, and we believe the time has come to accelerate,” said Miloš Zlatković, the company’s co-founder and CEO.
Zlatković and Buha founded Mily Technologies in Belgrade, Serbia, in January 2021, and a year later, they moved headquarters to Munich, Germany. Their clients are some of the biggest courier companies in the Balkan region, and they partner with industry-related companies across Europe to make the last mile more efficient and sustainable.
Mily Tech’s platform collects, connects and enriches delivery data to help parcel delivery companies reach breakthrough performance in the last mile. Companies can easily gain visibility of their delivery processes, understand courier productivity and make data-driven decisions that drive business growth.