MyDello, a Tallinn-based logistics platform, announced on Tuesday that it has secured €1.25M in a funding round led by Helsinki-based Seed stage VC Superhero Capital.
Other investors, including Yevgeny Kabanov, Bolt’s president, and angel investors from previous rounds, also participated in the funding round.
MyDello will use the funding to expand its platform, strengthen its presence in the Baltic States and Sweden, as well as venture into new markets in Finland and the Netherlands.
MyDello: Making global shipping simple and convenient
Magnus Lepasalu, Joel Timm, and Siimu Kaas founded MyDello in 2021 due to the lack of digital solutions in global logistics.
Magnus Lepasalu says, “The logistics industry needs modernisation 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 digitalisation to international transport.”
MyDello aims to make global shipping simple and convenient by helping companies reduce logistics costs by 15-20 per cent,” he further adds.
Instead of asking for a quote by email or phone, the MyDello portal instantly displays solutions for air, road, rail, and sea transport after the customer enters the shipment details, taking care of all the paperwork involved.
All the delivery information is conveniently in one place, and shipments can be tracked in real-time, claims the company.
Superhero Capital is a venture capital investment firm based in Helsinki, Finland. The VC firm primarily invests up to €1M in software-driven startups in Finland and the Baltics.
“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,” says Jussi Pyörre, one of the partners at Superhero Capital.