Deliverider Raises $2M in Seed Funding

Deliverider, a Tel Aviv, Israel-based provider of a middle-mile logistics solution for e-grocery, raised $2M in Seed funding.

The round was led by Millennium Group, and NC Capital.

The company intends to use the funds to further expand its product development and hiring efforts, as well as to spur faster adoption of the platform amongst large e-commerce retailers looking to extend their catalog offering, boost online profits, and increase overall basket size by allowing non-inventory items to ride in the same basket as in-stock items at no additional cost.

Led by CEO Ido Raz, Deliverider provides a technology-enabled, middle-mile logistics solution for online retailers. The platform allows e-commerce companies to offer low-cost-non-inventory products alongside their in-stock selection and fulfill it in the same basket, without the need for stocking of third-party inventory or multiple last-mile shipments. The solution enables users to improve their average cart size, make delivery profitable, and regain their customer relationships.

Currently, the platform is being utilized by Israel’s leading grocery provider Shufersal, along with a consortium of 20 plus brands, including ToysRUs, with plans to expand to the US market within the next quarter.