Mily Technologies (Mily Tech), an analytics platform tailored for last-mile deliveries and logistics, has announced that, at the closure of its pre-seed funding round, it has raised €1m (£877,000).
The financing round was led by South Central Ventures and saw the contribution of a non-equity grant from Katapult Accelerator.
The company has said the funding will help it expand across Europe and grow its team to bring a fresh perspective into the logistics industry.
The logistics analytics firm said that it can support companies to withstand fluctuations in parcel volumes by helping them process vast amounts of data quickly to support informed decision making.
Mily Tech hopes to achieve this by providing a delivery analytics platform that combines location intelligence with business analytics to help parcel delivery companies improve performance.
What’s more, using the platform, last-mile professionals can identify possibilities for reducing costs, improving delivery processes, and confidently growing their out-of-home networks, according to Mily Tech.
“Being newcomers to the industry forced us to ask a lot of questions to get a deep understanding of the space,” said Miloš Zlatković, CEO of Mily Technologies.
“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.”
Miloš Zlatković and Aleksandar Buha founded Mily Technologies in Belgrade, Serbia, in January 2021 and reports that some of its clients are some of the biggest courier companies in the Balkan region.