Tallinn-based logistics startup MyDello has
raised €3.1 million in a funding round led by Icelandic venture capital firm
Frumtak Ventures, with participation from existing investor Finnish early-stage
venture capital firm Superhero Capital. Frumtak Ventures general partner Andri
Heiðar Kristinsson and Jevgeni Kabanov, President of urban mobility company
Bolt and a previous investor in MyDello, have joined the board.
Freight and shipping across all transport modes account
for an estimated 10–12 per cent of the global economy, with maritime shipping
handling most international trade by volume, yet the sector still relies
heavily on manual workflows, paper documentation, fragmented communication, and
limited real-time shipment visibility.
Founded by experienced logistics professionals, MyDello
aims to address these challenges by digitalising international freight
processes and reducing inefficiencies in global supply chains through a B2B
platform for manufacturing, wholesale, and e-commerce customers that provides
instant door-to-door pricing and routing across freight modes from a single
inquiry, supported by agreements with 400+ carriers and partnerships including
DHL, Lufthansa, Maersk, Qatar Airways, and Finnair.
Businesses enter shipment details (origin, destination,
dimensions, and weight) to compare quotes, book transport, and track deliveries
in real time with an AI-powered delivery countdown, with a focus on complex
long-distance international freight such as routes in and out of the EU,
China-linked trade, and lanes between the Americas and Europe.
In our coverage earlier this year, MyDello
co-founder Magnus Lepasalu said sustainability is becoming a bigger priority in
logistics and that the company’s platform is intended to help customers make
more informed, sustainable choices, an approach it now plans to scale following
the new funding.
Since launching in 2021, the company has facilitated thousands of shipments and established partnerships with hundreds of carriers and industry participants.
When we launched MyDello in 2021
we knew there was a better way for our industry to operate and in just a few
years we have facilitated thousands of shipments, built up a deep customer
base, and struck partnerships and agreements with hundreds of key carriers and
industry peers. However, this is just the start, and we’re overjoyed to welcome
Frumtak Ventures, and we thank them and our returning investors for their
support,
adds MyDello co-founder and CEO
Joel Timm.
The company reports onboarding 12,500
businesses from 110 countries and currently operates across 12 countries in
Europe and China, with an aim to expand across Europe by 2027.
The
investment will be used to accelerate international expansion, starting with
the UK, where the platform is expected to be available to customers from
December. MyDello also plans to further integrate AI into its systems, with the
goal of automating most shipment operations by the end of 2026.
