Estonian logistics startup MyDello has raised €3.1 million in a new funding round led by Icelandic VC Frumtak Ventures, with participation from existing investor Superhero Capital of Finland, as the company expands its automated freight platform into the UK. The round also brings Jevgeni Kabanov, president of Bolt, onto MyDello’s board, alongside Frumtak general partner Andri Heiðar Kristinsson. MyDello is a B2B digital freight forwarder that uses proprietary software and an expanding AI layer to automate international shipping, offering instant door-to-door pricing and routing across all freight modes by tapping into more than 400 carriers globally. The fresh capital will be used to accelerate international growth—starting with UK customers going live in December—and to further embed AI across MyDello’s systems, with the goal of automating most shipment operations by the end of 2026.
Founded in 2021, MyDello is a B2B digital freight forwarder focused on automating international logistics—an industry the company estimates to be worth around $6 trillion globally. Its platform allows businesses to receive instant, door-to-door pricing and routing across all freight modes through a single inquiry, covering shipments from 1 kg up to 10 full containers. The system draws on agreements with more than 400 carriers and partnerships with major players including DHL, Lufthansa, Maersk, Qatar Airways, and Finnair.
The newly raised capital will be used to speed up international expansion, starting with the UK, and to further integrate AI technology across MyDello’s systems. The company aims to automate most shipment operations by the end of 2026, reducing reliance on manual processes that still dominate global freight.
“We love logistics—my co-founders and I have decades of experience and know the highs and lows of the industry,” said Joel Timm, co-founder and CEO of MyDello. “When we launched MyDello in 2021 we knew there was a better way for our industry to operate and in just a few years we have facilitated thousands of shipments, built up a deep customer base, and struck partnerships and agreements with hundreds of key carriers and industry peers. However, this is just the start, and we’re overjoyed to welcome Frumtak Ventures, and we thank them and our returning investors for their support.”
Since launch, MyDello has onboarded 12,500 businesses across 110 countries and facilitated shipments between more than 120 countries. The platform is currently available in 12 countries across Europe and China, with plans to cover every European market by 2027. While active across all freight classes, the company has a strong focus on air, ocean, and rail freight, particularly on complex international routes involving the EU, China—where MyDello operates an office in Shenzhen—and key trade lanes between Europe and the Americas.
From an investor perspective, Frumtak Ventures highlighted both the founders’ experience and the scale of the opportunity.
Frumtak Ventures general partner Andri Heiðar Kristinsson: “MyDello is an awesome company: experienced founders with deep industry experience, proven track record, and crystal clear vision for what is next. Being from Iceland, an island in the North Atlantic, we at Frumtak know first-hand how important global logistics and freight forwarding is, while we also remain baffled by the outdated legacy technology and manual processes still dominant in this fragmented industry. MyDello is perfectly positioned to move the industry forward to the AI-age through its ambitious mission of fully automating shipment operations. MyDello also marks Frumtak’s first investment in an Estonian company, a remarkable and thriving tech ecosystem that has created so many success stories.”
With fresh capital, new board-level expertise, and its UK launch underway, MyDello is positioning itself as one of the Baltic region’s more ambitious players in the race to modernise global freight forwarding.
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Read the orginal article: https://arcticstartup.com/mydello-raises-e3-1m/
