MyDello receives €3.1M to support international expansion

MyDello, a Tallinn-based logistics startup, has secured €3.1 million in a funding round, signaling strong investor confidence in its digital solutions for the freight industry. The investment, led by Icelandic venture capital firm Frumtak Ventures, will fuel MyDello's expansion across Europe, with a particular focus on the UK market, and further development of its AI-powered platform. This funding highlights the growing trend of digitizing traditional industries to improve efficiency and reduce environmental impact. MyDello's platform addresses inefficiencies in global supply chains by providing a B2B platform for manufacturing, wholesale, and e-commerce customers. It offers instant door-to-door pricing and routing across various freight modes, supported by agreements with over 400 carriers including major players like DHL and Maersk. Businesses can compare quotes, book transport, and track deliveries in real time, with the platform incorporating AI for features like delivery countdowns and automated operations. The expansion will see the platform available in the UK from December, with plans for broader European coverage by 2027. MyDello's focus on complex, long-distance international freight, particularly routes in and out of the EU and China-linked trade, positions it to capitalize on increasing global trade volumes. The company's emphasis on sustainability, aiming to help customers make more informed and sustainable choices, also aligns with the evolving priorities of the logistics sector. MyDello, which launched in 2021, has already facilitated thousands of shipments and onboarded 12,500 businesses from 110 countries. The new funding will also drive further integration of AI, with the goal of automating most shipment operations by the end of 2026. This move underlines the potential of technology to transform the logistics sector, offering greater transparency and efficiency while addressing environmental concerns.