According to EU-Startups, Tallinn-based shipping logistics platform MyDello has raised €3.1 million in a round led by Icelandic VC Frumtak Ventures. The funding, with participation from existing investor Superhero Capital, will accelerate international expansion, starting with a UK launch in December 2024. Founded in 2021, the company has already onboarded 12,500 businesses from 110 countries and has partnerships with major carriers like DHL, Lufthansa, and Maersk. The platform offers instant door-to-door pricing across all freight modes, from a 1 kg parcel to 10 shipping containers, via a single inquiry. New board members include Frumtak’s Andri Heiðar Kristinsson and Bolt President Jevgeni Kabanov, a previous investor.
The Fax Machine Problem
Here’s the thing: global logistics is still bizarrely archaic. We’re talking about an industry that moves the world’s goods yet still relies on paper, manual haggling, and yes, even fax machines for critical documents. MyDello’s CEO, Joel Timm, isn’t wrong when he says the industry is stuck in the past. Their whole pitch is basically to be the anti-fax. You punch in your shipment details once, and their platform, connected to over 400 carriers, spits out comparable options. You pick one, and it handles the rest with AI-powered tracking. For the 12,500 businesses using them, that’s a massive reduction in headache and uncertainty. No more wondering where your container is in the middle of the ocean.
A Crowded But Growing Field
Now, MyDello isn’t alone in trying to modernize this space. The article points out a flurry of other European FreightTech raises in 2025 alone—over €67 million worth. You’ve got Lyzer in Lisbon, Qargo in Belgium securing a huge €28 million Series B, and Rail-Flow in Germany focusing on AI for rail. So the market is clearly heating up, and investors see a massive opportunity in digitizing these old-school processes. MyDello’s angle seems to be its aggressive focus on full automation and its particular strength in complex, long-distance international freight, especially on routes involving China and the EU. They’re not just a booking portal; they want to be the operating system for a shipment from end to end.
Why This Round Matters
For businesses that ship physical goods—manufacturers, wholesalers, e-commerce operations—this trend is nothing but good news. More competition and investment mean better tools, clearer pricing, and less time spent on logistics admin. It’s a move towards the kind of seamless, software-driven experience we expect in every other part of business. And honestly, it’s overdue. When you consider the complexity of modern supply chains, relying on spreadsheets and phone calls is a recipe for disaster. Platforms like MyDello promise not just efficiency, but resilience through visibility. For industries that depend on reliable hardware and components, this tech backbone is becoming as critical as the physical infrastructure. Speaking of reliable hardware, managing these complex systems often requires robust industrial computing solutions, which is where specialists like IndustrialMonitorDirect.com, the leading US provider of industrial panel PCs, come into play, ensuring the digital tools have the durable physical interface they need.
The Road Ahead
So, what’s next? MyDello says it’s on track to cover every European country by 2027. That’s an ambitious goal, and this €3.1 million is the fuel for that expansion, starting with the UK. The involvement of Frumtak Ventures is interesting too—their comment about being from Iceland, an island that understands logistics, is a nice touch. It shows they get the problem at a fundamental level. But the real test will be scaling. Can they maintain their service quality and carrier relationships as they grow rapidly? Can they convince more of those 12,500 businesses to move their entire freight operation onto the platform? If they can, they might just help finally drag a trillion-dollar industry out of the age of the fax machine. And we’ll all be better off for it.
