Dubai-based delivery company, iMile announced a $40 million Series A financing round at a $350 million valuation.
This is the largest series A round by a woman in the region and a key step forward in meeting the vision to transform the logistics chain between Chinese sellers and the rest of the world.
Ms. Rita Huang, Founder and CEO of iMile said that this round will enable iMile to expand its services further, globally expand and develop its consumer technology app dedicated to disrupting traditional shipping in emerging markets.
iMile was born as a solution for last-mile delivery services, the key logistics challenge in the Middle East. iMile’s propriety tech developments plays a pivotal role in supporting eCommerce in the region. It’s positioning, predictive, and machine learning technologies are equipped to meet the transport and shipping demands of the next generation of delivery.
According to reports, iMile will seek to improve performance for its partners and support the growth of smaller eCommerce businesses by digitalizing their onboarding process. iMile’s customer-to-customer services will also develop with the launch of iMile’s Delivery App allowing users to track, schedule and book orders.
Rita Huang CEO and Founder iMile
“This is truly an exciting time for iMile as we continue to expand across the region and around the world. We have a very strong presence in the Middle East and we plan on expanding into Africa, and Latin American markets. Our latest funding round is a proud moment for us and we intend to further invest in our technology, whilst improving the performance and excellence of our services. The investment will also help us accelerate our growth in many more markets to come. We are one of the largest shippers from China and we have a real vision to connect Chinese sellers to the world through exceptional service.”
The app service enables iMile to support local businesses that have no centralized access to first and last-mile services by offering them agile logistics solutions. The app is available on Google Play Store, Apple Store, and AppGallery. iMile, which is already a trusted vendor partner to many of the Middle East’s largest eCommerce companies, will expand its services to telecom and banking.
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