Founded in Belgrade, Serbia but now headquartered in Munich, Germany, Mily Technologies has secured €1 million in pre-seed funding, as the funding round draws to a close.
The startup aims to address the issue of information fragmentation and uninformed decisions through its data analytics platform. The platform is intended to create a single ‘source of truth’ to replace the use of multiple legacy tools in the processing of complex data.
According to Mily Technologies, ‘the delivery analytics platform combines location intelligence with business analytics, helping parcel delivery companies reach breakthrough performance’. This will hopefully allow last mile professionals to identify ways to reduce costs, improve delivery processes, and grow their networks.
Miloš Zlatković, Mily Technologies’ Chief Executive said: “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.”
The latest funding round was led by South Central Ventures and supported by a non-equity grant from Katapult Accelerator. Mily Technologies intends to use the funding to expand across Europe and grow its team by hiring individuals with ‘a fresh perspective into the logistics industry’.