Mily Technologies secures €1 million to help parcel delivery companies excel in the last-mile

February 27, 2023

Mily Technologies went from bootstrapping to successfully closing its Pre-Seed round of €1M, despite the economic downturn. The funding round was led by South Central Ventures and supported by a non-equity grant from Katapult Accelerator.

The ability to withstand parcel volume highs and lows, workforce fluctuations, and cope with day-to-day challenges requires more from last-mile professionals than ever before. They must process vast amounts of data quickly and make informed decisions in a fast-paced environment that is constantly changing due to various factors. This, however, is crucial to their success.

However, using multiple legacy tools to process such complex data leads to information fragmentation and failure to make data-informed decisions.

Mily Tech aims to address this problem and create one source of truth. The delivery analytics platform combines location intelligence with business analytics, helping parcel delivery companies reach breakthrough performance. Last-mile professionals can quickly identify possibilities for reducing costs, improving delivery processes, and confidently growing their out-of-home networks.

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,” said Miloš Zlatković, the company’s CEO. 

Miloš Zlatković and Aleksandar Buha founded Mily Technologies in Belgrade, Serbia, in January 2021, and a year later, they moved headquarters to Munich, Germany. Their clients are some of the biggest courier companies in the Balkan region, and they partner with industry-related companies across Europe to make the last mile more efficient and sustainable. 

The funding will help Mily Technologies expand across Europe and grow the team that brings an edge and a fresh perspective into the logistics industry.