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.
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