MyDello, an Estonian logistics startup, secures €1.25 million to fuel its expansion into the Dutch market

Share now

Read this article in:

MyDello, an Estonian logistics startup, secures €1.25 million to fuel its expansion into the Dutch market
©  MyDello

MyDello, a logistics platform headquartered in Tallinn, revealed the successful closure of a €1.25 million funding round, with leading participation from Helsinki-based Seed stage VC Superhero Capital.

The funding round also witnessed participation from additional investors, such as Yevgeny Kabanov, President of Bolt, and angel investors who had previously supported the company.

MyDello intends to allocate the secured funds toward enhancing its platform, consolidating its footprint in the Baltic States and Sweden, and embarking on new market entries in Finland and the Netherlands.

Advertisement

Simplifying and Streamlining Global Shipping with MyDello

MyDello was founded in 2021 by Magnus Lepasalu, Joel Timm, and Siimu Kaas in response to the absence of digital solutions in the global logistics landscape.

According to Magnus Lepasalu, “The logistics industry is in need of modernization, with much of its communication still reliant on emails. Managing shipments remains a significant challenge for logistics managers in industrial and wholesale companies, often leading to errors due to a lack of transparency in information.”

He continues, “Our mission is to enhance the efficiency of global logistics by minimizing supply chain wastage and introducing digitalization to international transportation.”

MyDello’s primary goal is to simplify and optimize global shipping, enabling companies to reduce their logistics costs by 15-20%. Instead of the conventional process of requesting quotes via email or phone, the MyDello portal instantaneously presents transportation solutions for air, road, rail, and sea once the customer inputs the shipment details, handling all necessary paperwork.

The platform consolidates all delivery information into one accessible location, and it enables real-time tracking of shipments.

About the Investor

Superhero Capital, headquartered in Helsinki, Finland, is a venture capital investment firm specializing in software-driven startups located in Finland and the Baltics, typically providing investments of up to €1 million.

Jussi Pyörre, one of the partners at Superhero Capital, highlights the transformative shift in traditional international freight forwarding methods, with MyDello’s digital platform positioned at the forefront of this evolution. He underscores the platform’s distinctive ability to generate quotes within seconds, greatly enhancing efficiency and convenience for all stakeholders while simultaneously reducing costs. It’s noteworthy that the logistics market is substantial, boasting an annual turnover of €10 trillion.

Advertisement

Get the top Stories in your Inbox

Sign up for our Newsletters
[mc4wp_form id="399"]