Brazil’s Mandaê raises $7.1m funding
The Brazilian parcel logistics startup Mandaê has raised $7.1m in a Series B funding round led by World Bank Group’s IFC, UPS, and Mercado Libre.
This current round brings Mandaê’s total funding to $14m.
In a statement issued yesterday (2 May), Mandaê describes its service as 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”.
The company said it “works with multiple players across each of the principal steps of the parcel supply chain: pickups, cross-docking and last-mile transport”. Mandaê says it 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”.
Mandaê currently works with shippers in São Paulo state and it said that the funds from this round “will be used to expand to other regions of Brazil and to accelerate growth”.