Mily Technologies has secured €1 million in Pre-Seed funding, led by South Central Ventures and supported by a non-equity grant from Katapult Accelerator. The funding will help Mily Technologies expand across Europe and grow the team that brings an edge and a fresh perspective into the logistics industry.
Parcel delivery companies experience intense challenges, with billions of parcels delivered worldwide and increasing recipients’ expectations. Using multiple legacy tools to process such complex data leads to information fragmentation and failure to make data-informed decisions.
“Delivery networks were not designed for today’s e-commerce environment. Even less for what is ahead in the next 5 to 10 years,” said Aleksandar Buha, the company’s CTO.
The ability to withstand parcel volume highs and lows, 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. This, however, is crucial to their success.
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 and create one source of truth. 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. Precisely 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 CEO.
South Central Ventures Partner Goran Stevanovic said, “We are thrilled to partner with Mily Technologies on their mission to revolutionize the last-mile industry. Their groundbreaking delivery analytics platform has the potential to transform the way parcel delivery companies operate by offering data-driven insights that enable them to optimize their operations and make informed decisions. We are equally impressed with the caliber of the Mily Tech team, whose deep expertise and unwavering dedication to solving complex last-mile logistics challenges position them for success in disrupting the industry.”
About Mily Technologies
Miloš Zlatković and Aleksandar 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.
About South Central Ventures
South Central Ventures is a VC investor with a long and enduring presence in the Adriatic region. Operating out of four offices – Ljubljana, Zagreb, Belgrade, and Skopje – the team has invested in about 40 early-stage tech companies and has been an integral part of the local start-up community. With a strong base of international investors, South Central Ventures is the go-to-investor for regional tech companies competing in global markets. SCV’s portfolio companies include Cognism, AdScanner, Insightful, Orgnostic, among others.