Coke's delivery app partner Bringg raises $10M, shows draw of on-demand services
- Israel-based logistics delivery platform, Bringg, raised $10 million in a new round of funding from Aleph VC, Coca-Cola and Pereg Ventures, the company announced Tuesday.
- The company offers a streamlined logistics platform that works with existing API to provide Uber-style restocking of existing products, while presenting a transparent delivery system allowing sellers to anticipate drivers, delivery routes, and precise product arrival times.
- Bringg was placed in the spotlight last week when its investor Coca Cola said it was encouraging mom-and-pop retailers to use the app to inform the beverage giant when stock needs to be replenished.
Bringg is bringing it — whether soda or meal delivery — on demand, and demand is up, if investment is any indication. The latest round of funding doubles what the company had previously received in seed and Series A investments, per Crunchbase records.
The company is not alone. In fact, on-demand delivery startups are doing pretty well. Another delivery company, called Deliv, has also seen extraordinary interest, having earned more than $40 million in investment dollars since its million-dollar start in 2012. The quick-restock aspect of Bringg's business also highlights the new way in which distributors function: with smaller, urban supply stations allowing easy access, retailers and small businesses can rebuild their dwindling supply within hours rather than days.
Both startups are last-mile professionals, a lap notoriously difficult to manage in both a cost-efficient and speedy manner. However, logistics startups are seeing across all links in the supply chain — from freight marketplaces to Internet-of-Things providers or supply chain solutions — showing the widespread interest in digitizing the chain and reducing age-old inefficiencies.
- Press Release Bringg Raises Additional $10 Million as Enterprise Demand Grows for its Leading Customer-Centric Logistics Platform
- Tech Crunch Bringg Raises $5 Million So Any Business Can Offer An Uber-Like Experience
- Crunch Base Deliv
- Geek Wire Report: Faster deliveries open the market for tech startups to reshape the logistics industry
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