This latest round will accelerate the development of its proprietary technology that’s set on completely disrupting conventional shipping in emerging markets.
Dubai-based, MENA-focused last-mile delivery company iMile has raised another funding round to conclude its Series A round at USD 40 million. One of the highest funding rounds raised by a female entrepreneur in the region, the round will aid the company in fulfilling its vision to disrupt the logistics chain between China and the rest of the world.
Supply chain building, facilitation and management are attracting a lot of venture investment for startups and VCs operating in Emerging Venture Markets. In the MENA region, this is framed within the recent tide of global and regional VC interest in the Transport and Logistics sector.
Founded in 2017, iMile is the first courier company to offer Smart Logistics and courier services to the E-commerce ecosystem. Focused on tackling the pain points unique to the Middle East, iMile offers a localized solution that solves the Cash on Deliver (COD) and ‘no-address problem’ rampant in the region.
Already becoming a household name in the transport and logistics sector in the Middle East’s e-commerce ecosystem, iMile is broadening the scope of its services to include sectors such as Telecom and Banking. This latest round will accelerate the development of its proprietary technology that’s set on completely disrupting conventional shipping in emerging markets.
"This is truly an exciting time for iMile as we continue to expand across the region and around the world. We have a very strong presence in the Middle East and we plan on expanding into Africa, and Latin American markets,” commented CEO and Founder of iMile, Rita Huang. “Our latest funding round is a proud moment for us and we intend to further invest in our technology, whilst improving the performance and excellence of our services. The investment will also help us accelerate our growth in many more markets to come. We are one of the largest shippers from China and we have a real vision to connect Chinese sellers to the world through exceptional service."
iMile’s proprietary tech developments coupled with agile logistics solutions have empowered e-commerce in the region helping fulfill the transport and shipping demands of local businesses. The company nurtures the growth of small businesses by digitizing their onboarding process, enabling them to have more control over transport logistics.