Italy-based supply chain software developer Milkman secured €25m ($27.2m) from investors including postal service and financial services provider Poste Italiane on Friday.
Venture capital firms 360 Capital and P101 also participated in the round, as did asset management firm Vertis and Italia500, a joint venture between asset manager Azimut and P101. It brought the company’s total funding to roughly $38m.
Founded in 2015, Milkman runs an online logistics platform that allows last-mile delivery services to be booked on demand. Users can choose a specific timeframe for delivery or opt for same-day drop off, with items tracked in real time.
Poste Italiane formed a collaboration agreement with the company in January this year, and the two have jointly launched a premium service dubbed MLK Deliveries. Milkman plans to now expand its geographic coverage from the cities of Milan, Rome and Turin to other regions and countries.
The company raised $7.4m in an October 2018 round led by Vertis’ Venture 2 Scaleup vehicle and backed by P101 and 360 Capital. It followed $280,000 in pre-seed and seed funding from unnamed investors and $1.2m in a subsequent 2016 round featuring P101 Partner, 360 Capital and angel investor Mike Brennan.
