Delivery Startup MetroSpeedy Secures $5 mln in Seed Funding

MetroSpeedy, a delivery startup based in New York, has secured $5 million in seed funding to expand its last-mile delivery platform.

The seed funding round was led by AddVenture Fund and counted with participation from strategic investors like TMT Investments, TA Ventures, Joint Journey, Fores Investments, and Vershina Capital. Max Medvedev, Founding Partner of AddVenture Fund, said about the firm’s participation:

“MetroSpeedy’s execution in the last-mile delivery space has been exemplary. Especially during the lockdown, they have shown why they are an essential service for New York residents and business owners. The environmentally-friendly approach, dedication to service quality, and best-in-class technology make them the indispensable partner for any business with last-mile logistics needs. I’m proud to back them, and I’m looking forward to working with Nancy.”

The startup was founded in 2019 to help businesses to provide their users with cost-effective, efficient, and reliable same-day delivery. It does this by developing specialized software and services which when combined with their multiple micro fulfillment locations, ensure the rapid fulfillment of orders.

This approach has allowed the startup to experience sustained growth over the years, which has resulted in the expansion of its market presence and its eco-friendly electric vehicle float. CEO Nancy Korayim referred to this success by stating:

“MetroSpeedy has been profitable since our first year in business with steady increases year over year and a notable increase over 2020. We are proud of our achievements and support from our investors. This seed funding will help us meet accelerating demand by boosting our proprietary tech platforms and infrastructure. We will also make key hires this year to support our growth into additional markets. The best is yet to come- we have an exciting consumer facing launch on the horizon.”

MetroSpeedy will allocate the new funding to boost the development of its proprietary technology, create new fulfillment hubs, expand to new markets, and secure additional talent. With the recent pandemic highlighting the need for efficient delivery systems, the delivery startup is poised for its next stage of growth, capitalizing on the increasing demand for the solutions it offers.