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.
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