Brazilian Logtech Uello receives USD 4 million in Series A investment deal and now aims at Series B
SAO PAULO, June 16, 2021 /PRNewswire/ -- Uello, a Brazilian logtech that uses technology and a collaborative network to provide express freight services with superior experience, concluded its Series A investment deal with an investment injection of USD 4 million. The deal was led by the Btomorrow Ventures (BTV), the corporate venturing unit of BAT, and was followed by the Brazilian funds Capital Lab and Invest Tech. Since its foundation, Uello has raised USD 5.5 million. The startup has leveraged from the wave of growth of e-commerce driven by the pandemic to launch new products, expand its areas of operation, and see its turnover grow 4 times in the last 12 months.
Uello focuses on large and medium size corporate clients, mainly in retail and e-commerce, and has its own tchnology as a differential, which allows deliveries to be carried out in an optimized manner with consolidation in hubs and route sharing. Its features also allow for real-time monitoring and management of deliveries, offering a superior experience to corporate customers and delivery recipients. In 2020, the logtech participated in acceleration programs of 500 Startups Miami (USA) and Scale Up by Endeavor, in addition to being included in important local rankings, such as 100 Startups to Watch and 100 Open Startups (Brazil).
Currently, the company has 100 employees and has more than 250 corporate clients, including Canon, Lindt, Essity, Natura & Co/The Body Shop, Victorinox and BAT. The Series A investment will enable development of new products and an innovative technological solution to manage the logistics of companies that have their own operation, the expansion of Uello's geographical operations and the hiring of a qualified team to deal with the challenges of a scale up.
Faced with this scenario of growth, expansion and new product developments, Uello is already preparing to raise a new round of Series B investment. "Our vision is to transform the logistics ecosystem of deliveries through our platform of resource orchestration that combines the use and optimization of independent couriers, small warehouses, carriers and fleets of large companies", says Fernando Sartori, founder of Uello.