Mily Technologies, based in Munich, has secured €1 million in pre-seed funding to propel its expansion as it strives to revolutionize last-mile deliveries.
The funding, led by South Central Ventures and supported by a non-equity grant from Katapult Accelerator, will be used to fuel Mily Tech’s European expansion plans and team growth.
This innovative startup aims to simplify the complex logistics faced by delivery companies, offering them an alternative to outdated legacy tools. By creating a single source of truth, the Mily Technologies delivery analytics platform combines location intelligence with business analytics, empowering companies to make data-driven decisions and achieve more efficient performance.
With high expectations for delivery capabilities across Europe, last-mile delivery has become a critical aspect of modern life, requiring delivery companies to process vast amounts of data and make informed decisions quickly in an ever-changing, fast-paced environment.
Mily Tech’s solution helps professionals in this field identify opportunities to reduce costs, improve delivery processes, and confidently grow their out-of-home networks.
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Miloš Zlatković, the founder and CEO, said “being newcomers to the industry forced them to ask a lot of questions and create a unique solution on the market. Over the last two years, they have gathered a wealth of information and ideas from customers and partners, and they believe the time has come to accelerate.”
The company, founded in 2021 by Miloš Zlatković and Aleksandar Buha, currently serves courier companies in the Balkan region and has partnered with industry-related firms across Europe to make the last mile more efficient and sustainable.