Bringg lands $10 million investment from Coca-Cola and partners
Last-mile logistics startup will expand marketing, sales, R&D efforts.
Last-mile logistics and on-demand delivery platform Bringg Delivery Technologies Ltd. will expand its marketing, sales, and research and development (R&D) programs thanks to a $10 million venture investment from The Coca-Cola Company and other partners, the firm said Tuesday.
Chicago-based Bringg raised the new funding in an investment round led by Aleph Venture Capital and joined by soft drink giant Coca-Cola and previous investor Pereg Ventures. This follows earlier investments from Ituran and Cambridge Capital LLC, the company said.
Fueled by the new funds, Bringg will expand its services for customers in the segments of retail, ecommerce, consumer packaged goods (CPG), food, and 3PL/4PL (third/fourth-party logistics providers) in more than 50 countries.
The company says it can help companies meet high customer expectations for speed and convenience in the last-mile parcel delivery experience, while keeping a cap on delivery costs by using a lean, elastic supply chain that can accommodate a variety of delivery models and providers.
"Amazon raised the standards when it comes to delivery; we provide the tools that enable any company to match their logistics excellence," Bringg co-founder and CEO Raanan Cohen said in a release.
In other recent steps, Bringg signed clients in 2016, including supply chain management company Unimasters Logistics PLC and food-delivery company Hungry Marketplace Inc.
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