In the last days of December Deliver announced it secured 500 million rubles (nearly $7 million at the current exchange rate) from VEB Ventures (formerly VEB Innovations), a venture fund backed by state development agency VEB.RF (Vnesheconombank).
An internationally successful Russian online freight service, Deliver has set for itself the mission of “solving the inefficiencies of the logistics market by applying modern technology.”
Its online platform, launched in early 2017, helps companies find the closest shipping service provider and automates the process of ordering freight transport.
Deliver claims to use AI and other high-tech approached to place shippers’ orders with an instant pricing “in 2 seconds,” and find a match “in 15 minutes.” It says its platform is connected to some 59,000 customers and logistic partners.
Since its inception, the company secured several rounds of funding:
- In 2016, $5 million were injected by A&NN Investments — the investment vehicle of Russian billionaire Alexander Mamut — and Singapore-based Amereus Group;
- In 2017, $3 million were received from the Russian fund Inventure Partners;
- In 2018, the Russian sovereign wealth fund RDIF and its Abu Dhabi Mubadala injected $7.5 million in the company.
The latest capital injection from VEB Ventures will be used for company scale up, enlarging its geographic coverage and launching new services for customers and logistic partners.
Sources: Inc. Russia, VC.RU.
