HomeFundingMunich-based Mily Technologies raises €1 million to boost last mile delivery efficiency

Munich-based Mily Technologies raises €1 million to boost last mile delivery efficiency

Headquartered in Munich, Mily Technologies is on a mission to master last-mile deliveries. The startup has just secured its first investment of €1 million to fuel its expansion. 

Last-mile delivery is a critical part of modern life. Across Europe, consumers and companies alike have come to have high expectations when it comes to delivery capabilities, and that’s something that is here to stay.

For delivery companies themselves, the logistics of last-mile delivery can be complex. Dealing with demand fluctuations, workforce changes, price fluctuations and supply chain issues are just some of the day-to-day challenges. To cope, these companies have to process vast amounts of data quickly and make informed decisions in a fast-paced environment that is constantly changing.

Aiming to make it simple, is Serbian-born Mily Technologies. The startup aims to offer delivery companies an alternative to complex and outdated legacy tools.

After being bootstrapped, the Munich-headquartered team has just secured its pre-seed funding round of €1 million. The funding was led by South Central Ventures and supported by a non-equity grant from Katapult Accelerator.

Founded in 2021, Mily Tech helps companies make data-driven decisions by creating one source of truth. Its delivery analytics platform combines location intelligence with business analytics, helping parcel delivery companies reach more efficient performance.

Miloš Zlatković, founder and CEO: “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.”

With the platform, last-mile professionals can quickly identify possibilities for reducing costs, improving delivery processes, and confidently growing their out-of-home networks.

Currently, the startup, which was founded by Miloš Zlatković and Aleksandar Buha, counts courier companies in the Balkan region as clients and has partnered with industry-related companies across Europe to make the last mile more efficient and sustainable.

This funding will be used to help the company drive forward its European expansion plans and grow the team.

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Patricia Allen
Patricia Allen
is the Head of Content at EU-Startups. With a background in politics, Patricia has a real passion for how shared ideas across communities and cultures can bring new initiatives and innovations for the future. She spends her time bringing you the latest news and updates of startups across Europe, and curating our social media.

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