Ziticity raises €2.2 million seed investment for Europe expansion
Lithuanian logistics platform Ziticity has closed a €2.2 million seed equity investment round led by NordicNinja VC in participation with Superhero Capital VC, Practica Capital, Superangel VC, Startup Wise Guys and business angel Maksim Golivkin to fund Ziticity’s expansion in Europe.
According to the company's data, 60% of last-mile deliveries are within a five-kilometre radius from pickup to the drop-off location. Short delivery distances widen the possibility for couriers to use any means of transportation including cars, bicycles, e-scooters, etc.
Since the launch, Ziticity has been a success in France and the Baltics, used by over 2700 companies like Telia, Tele2, Pizza Hut, and Euroapotecha pharmacies’ network. Thanks to urban batching logic, the reached average delivery time is 42 minutes. Proper routes’ optimisation lets couriers complete 4-6 deliveries per hour. This keeps prices affordable to the shopper, while couriers can earn +15% more per hour than in competing platforms. The company been steadily growing 22% month over month ever since the launch with a sharp 44% revenue increase during COVID-19.
Tomosaku Sohara, Managing Partner at NordicNinja VC: “The delivery industry is expected to increase dramatically and 2.1 billion people are expected to buy goods online by 2021. On top of that, current global pandemic changes people’s behavior and habits like how they buy, sell and eat at an unprecedented rate of change. We believe that ZITICITY’s solution is a kind of silver lining approach for the industry and end-users which need to adjust for new normal.”
After successfully piloting in Estonia and Lithuania, Ziticity is now expanding in Paris and preparing for entering several countries in Europe.