SÃO PAULO, Brazil--(BUSINESS WIRE)--Mandaê announced it has closed a USD $7.1 million Series B round led by IFC, a member of the World Bank Group. Other participants include UPS Strategic Enterprise Fund, Mercado Libre Fund, Tekton Ventures, FJ Labs, and existing investors Performa Investimentos, Qualcomm Ventures (the investment arm of Qualcomm Incorporated), Monashees, and Icon Holding Company.
“IFC’s Venture Capital team focuses on technology-driven innovation; we have invested more than $80 million globally in the early stage e-logistics sector over the past two years. IFC is proud to support Mandaê’s mission to unlock shipping cost savings and market efficiencies for the growing SMB sector in Brazil,” said Stevon D. Darling, Investment Officer for IFC’s VC investments in Latin America.
Mandaê is a multi-sided platform that organizes the entirety of the parcel supply chain to deliver a seamless, high-quality and efficient parcel shipment service for businesses in Brazil, helping them save up to 35% on their shipping costs.
This asset-light approach to parcel logistics is the first of its kind in the world. Mandaê works with multiple players across each of the principal steps of the parcel supply chain: pickups, cross-docking and last-mile transport. Mandaê then uses technology to design the most efficient journey for each package, from the choice of vehicles that do pick-ups from shippers (including optimization of pickup routing), identification of the appropriate cross-docking facility each package goes to and the optimization of package separation, to selection of carriers along each package’s middle- and last-mile journeys.
This approach is ideally suited for the Brazilian region, where SMBs generally have only one shipping option: the national postal service. Mandaê is the only platform in Brazil that allows lower-volume shippers to utilize private couriers, helping them save significant money and ensure better shipping quality.
The rapid growth of e-commerce is also changing consumer expectations around logistics: more than ever before, e-commerce businesses must provide logistics that are better, faster, and cheaper, or risk losing business. In addition to its core shipping platform, Mandaê also provides a number of product features to enhance the shipping experience, such as reverse logistics services, as well as dashboards and tools to manage shipments, including package tracking, service quality control, and monitoring of shipment costs. Mandaê allows shippers to integrate with commonly used e-commerce platforms and ERPs, and also allows for integration via API.
“The continued growth of e-commerce is one of the mega-trends shaping our world right now, and logistics is adapting and transforming as a result. Specifically, what we see happening is increasing disintermediation of the parcel supply chain,” said Mandaê cofounder and CEO Marcelo Fujimoto. “There are lots of businesses focused on making last-mile delivery more efficient, but the parcel supply chain involves more than just last-mile delivery. Our view is that disintermediation across the supply chain is creating even larger opportunities for improvement in the parcel space. Through our platform, Mandaê is redefining the quality, experience, and flexibility of shipping a package. We’re extremely excited to collaborate with our new and existing investors, each of whom bring expertise in logistics, e-commerce or platforms, to help Mandaê continue to grow and transform our industry.”
Mandaê currently attends shippers in São Paulo state. The funds from this round will be used to expand to other regions of Brazil and to accelerate growth. This current round brings Mandaê’s total funding to USD $14 million. Earlier investors also include Valor Capital, Kima Ventures and Hans Hickler, the former CEO of DHL Express USA.
For more information about Mandaê, please visit www.mandae.com.br.
About Mandaê
Mandaê is reinventing parcel logistics through a digital platform that organizes the entirety of the parcel supply chain to deliver a seamless, high-quality and efficient parcel shipment service for businesses in Brazil. We’re the first startup in the world taking this approach to logistics. Our model is asset-light, working with players across each of the principal steps of the parcel supply chain: pickups, cross-docking, and last-mile transport. In a country where the national postal service is effectively the only shipping option for most businesses, Mandaê’s platform is the only one that allows them to use private transporters, helping them save up to 35% on their shipping costs.
About IFC
IFC—a sister organization of the World Bank and member of the World Bank Group—is the largest global development institution focused on the private sector in emerging markets. We work with more than 2,000 businesses worldwide, using our capital, expertise, and influence to create markets and opportunities in the toughest areas of the world. In FY17, we delivered a record $19.3 billion in long-term financing for developing countries, leveraging the power of the private sector to help end poverty and boost shared prosperity. For more information, visit www.ifc.org
About UPS Strategic Enterprise Fund
The UPS Strategic Enterprise Fund (the “SEF”) is the private equity strategic investment arm of UPS. The Fund is a corporate venture capital group which focuses on developing critical partnerships and acquiring knowledge returns from its investments in information technology companies and emerging market-spaces. The Fund invests in companies that are strategically relevant to UPS, and reflects the strong emphasis that UPS places on becoming the leading provider of technologically advanced services in the transportation and logistics industry.
About Mercado Libre Fund
Mercado Libre Fund is Mercado Libre´s (NASDAQ: MELI) investment arm. MELI’s Corporate Fund invests in tech companies across Latin America that boost the digital ecosystem and democratize commerce and access to capital by leveraging technology. The fund invests in seed stage companies that have a clear impact on the e-commerce and tech ecosystems and in early and growth stage companies that develop innovative tech solutions. Since 2013 the fund has invested in more than 20 companies across Latin America.
