About

Deliveries are sky-rocketing and delivery businesses are struggling to cope operationally and efficiently. Too many businesses rely on outdated technologies or work traditionally by trial and error, driving to time consuming and labor intensive with lack of organization, flexibility and control. COVID-19 is accelerating delivery business (commerce, food, grocery) and those businesses are struggling to cope operationally and efficiently. Mobility challenges are becoming increasingly critical, especially in urban centers. Furthermore, autonomous driving and deliveries will be the norm over the next 10 years internationally, relying on these technologies.

Solution & Product

Lastmily comes with sophisticated technology to help these business to overcome exactly this challenge! This AI powered platform takes account their resources (depots, drivers, vehicles), the delivery points, historical traffic big data & incidents and provides the optimal distribution network every day! With Lastmily, they get in numbers: • 10% up to 40% lower costs (fuel, management & more) • 15% up to 80% more stop points per driver Its easy to use, flexible and plug & play. It does not require any installation or equipment costs because it works on the cloud, coming with web & mobile apps. The platform provides advanced features and tools to automate, monitor and get cricical bussiness insights for a continuos improvement. Drivers make fast and easy deliveries with the one-click per stop driver app which comes with in-app, realtime traffic-avoidance navigation. Operators can ask the platform for optimization at any time from any place, even when the drivers are on the road & new stops came up. Everything is getting re-optimized and updated in real time! Recipients get a great experience as they see live where their parcel is and the exact arival time with the respective route with delivery or return options!

Innovation & Scalability

Lastmily key differentiators (Globally): Sophisticated Routing AI The great competitors' majority have implemented algorithms which are taking account static time costs (from point to another point). These costs do not consider traffic, which in fact, changes everything. This drives to inneficient routes and mostly, to not real/validated routes. (wrong times). Our routing engine (designed by us) is taking account historical traffic (many times a day), road closures, weather etc. driving to more efficent (up 20%) and mostly validatable routes. Really easy to use Lastmily can be used easily even from industry-irellevant persons, although its complexity. Clean/intuitive/minimum clicks/our "Mily" bot helping our users! In app navigation The great majority don’t provide in app navigation, forcing drivers to switch many times a day between driver app and conventional navigation app. Another key point is that we have built this navigation (utilizing partner's libraries), so we have the technology, we can make it do whatever we want. Interactive client portal The majority don’t provide a client portal. Our portal can impress recipients with the view of the driver coming to them with the respective route (updated in real time). Furthermore, client portal will provide options to recipients allowing interactions. Scalability: Our platform can work all over the world day 1. Furthermore, it works on cloud with on-demand computational servers for scalability.

Traction & achievements

At end of 2018 we started working on lastmily. The core founders participated in the team from the beginning. Initially we started designing and implementing routing algorithms. In August 2019 we started working with a distribution company to observe their work and their problems by collecting data guiding the MVP. In September 2019 we had the MVP (used by us) for 1-2 drivers and in November of the same year we had the proof of concept achieving a significant increase in performance and cost reduction. Then until August 2020 we continued the development and improvements, reaching the first 2 customers, 15 drivers and 4 operators. In the fall we composed the advisory board and started searching to raise money from angel investors & VCs. Today, we have secured money from angels & we are in the documents/singing stage with an important VC with an initial valuation of €1.1m premoney. Furthermore, we started our commercial plan execution with targated campaigns, publicity actions and contacts with national leads.

Team & Why Us

Growth strategy in three steps Pre-seed round: initial launch of Lastmily piloting in Greek market aiming to acquire 400 drivers, patternize our sales, addressing our growth engine & improving our product in an agile circle. Seed round: Massive marketing investment to scale up in Greece and introduce our product in other countries & developing structures for different revenue streams. Growth round: Scale up in other countries - generating different revenue streams. The only growth-barrier is that B2B companies will rise, selling routing AI services via API to traditionall telematics/fleet management companies, turning them into competitors ( with comparative disadvantages in relation to us). We aim to turn this barrier into an opportunity by creating a taskforce selling routing services to other platfroms/vendors. Furthermore, we aim to expand in lastmile services, creating different revenue streams. There are exit opportunities in Global industry Leaders (for market penetration), Location intelligence leaders and Major logistics providers. The two main reasons triggering an exit are the market penetration and the developed product because of its complexity. Our team combine enthousiasm with experience, technical skills with business skills sorrounded by a world-class advisory board. We have a great product with global competitive advantages and we have the passion to make LASTMILE TECHNOLOGIES a great company in the lastmile sector.

Funding Needs

We are goign to raise €150k in this pre-seed round. Our use of funds in detail: - salaries €89k - General Expenses €15k - Marketing & sales €11k - CAPEX €5k • Funds mostly for development expenses for launch & improve the product. • Funds expected to last for 12 months as we achieve a target of 400 end drivers • Seed round to follow in 12 months for growth