Serbian startup Mily Tech raises €1M in a pre-seed round

Serbia-founded delivery analytics platform Mily Tech has raised €1 million in a pre-seed funding round. South Central Ventures led the investment to help parcel delivery companies analyze their delivery operations, The Recursive reports.

• Founded in 2021 by Miloš Zlatković and Aleksandar Buha, Mily Tech is a delivery analytics platform. It collects, connects, and enriches delivery data to help parcel delivery companies reach great performance in the last mile. Essentially, it allows to quickly identify possibilities for reduced costs, improved delivery processes, and confident growth.
• The startup has offices in Belgrade and Munich, with some of the biggest courier companies in the Balkan region as their clients.
• South Central Ventures is the lead investor in this round. It is a Serbia-based fund with the focus on early-stage high-growth companies with excellent management teams. The fund recently led a €1M seed round for Dutch e-commerce startup Pixyle AI. Katapult Accelerator supported the round.

“A significant portion of the funds will be used to expand the team, bringing in new talent and expertise to further drive innovation and differentiation in the last-mile delivery industry. The company is committed to bringing a fresh perspective and a customer-centric approach to the industry, and the new hires will help support this mission,”

the company commented.

• The fresh funding will allow Mily Tech to expand across Europe and grow its team.