INSUBCONTINENT EXCLUSIVE:
Over the last several years, delivery services have become a key component of how retailers, or anyone selling or distributing products and
Now, with a global health pandemic in full swing keeping people indoors (and away from physical storefronts), delivery has become an
essential must-have if you want your business to stay alive
Today, a startup called Bringg, which helps companies build and run delivery operations, is announcing a growth round of $30 million to
and most recently introduced a last-mile delivery platform called BringgNow aimed at small and medium businesses to mobilise and manage
their own and third-party fleets of delivery people.The funding, a Series D, is being led by Viola Growth, with Next47, Salesforce, OG Tech
Ventures and GLP (all previous investors) also participating.It brings the total raised to around $83 million, and while Bringg is not
disclosing its valuation, for context, PitchBook placed its last valuation ($25 million Series C in January 2019) at $214.7 million
for the delivery and logistics sector overall.Delivery services, and businesses based around offering them, have been on an expansion tear
over the last several years fueled by the rise of the on-demand economy
turned all growth modeling on its head.Those that already delivered as part of their service (for example take-out food or groceries) are
seeing unprecedented levels of demand, and businesses that have never had that option now are finding that offering customers a delivery
Uber competitor Gett) both noted that another significant shift has been among consumer preferences.Trust had been a big gating factor in
offering to manage their delivery operations
These include tools (AI-based or otherwise) not only to optimise and understand where and how much stock exists, but to route it in the most
efficient way to sync up with online ordering platforms to make sure stock and services and people can get to who needs them
complement that when needed.While a lot of what Bringg is doing has been focused on for-profit businesses, the startup has been doing its
essentially opened its door to any and all other non-profits needing help
(Contact them if this applies to you.)The bigger picture is that Bringg is bringing (sorry) something to everyone, at a time when we really
We believe this market has major expansion potential and that Bringg, with its exceptional vision and execution, is ripe to take leadership,
a critical logistics model, keeping businesses afloat
Our latest investment demonstrates our belief in the value Bringg delivers to the market, providing businesses of all sizes the capabilities
Cowan, General Partner at Next47, in a separate statement.
