On the dot, a London, UK-based machine learning-driven last mile delivery startup, received an additional investment of £8m from CitySprint Group, its parent company, which is itself PE-funded.
The company, which has raised £17.7m in total funding since its establishment in 2015, intends to use the funds for product development, senior hires and international expansion.
Led by Santosh Sahu, CEO, and recently appointed Chief Revenue Officer Ben Nowlan, and Technical Director Taher Khaliq, On the dot – which now combines On the dot and LastMileLink Technologies – provides national and local retailers with an online portal or API, to intelligently display dynamic time windows, allowing their customers to select deliveries at the time most convenient to them.
The company’s fastest delivery to date is 275 seconds.
On the dot’s roster counts more than 100 customers including ASOS, Currys PC World, Dixons and Wickes. In June, the platform passed the half a million deliveries milestone, driving the company’s 2018 revenues of nearly £4 million to date.