n September 2021, the world of tech was abuzz with the news that Sequoia Capital had led a $26M funding round for Mascarenhas, a Portuguese logistics startup. The round also included participation from TechCrunch founder Michael Arrington’s Arrington XRP Capital, and several other notable investors. The funding will allow Mascarenhas to expand its operations across Europe and beyond, as it seeks to revolutionize the logistics industry with its innovative approach to last-mile delivery.
Founded in 2019 by CEO Tiago Mascarenhas, masstamilan Mascarenhas aims to solve one of the biggest challenges facing the logistics industry today: last-mile delivery. This is the final leg of the supply chain, where goods are delivered from the warehouse or distribution center to the end customer. It’s a crucial stage, but also one that is fraught with challenges such as traffic congestion, unpredictable delivery times, and the need for a high degree of flexibility.
Mascarenhas’ solution is to use myvuhub a fleet of electric bicycles and tricycles, which can navigate the narrow streets and busy urban areas where traditional delivery vehicles struggle. The bikes are equipped with GPS and real-time tracking, allowing customers to track their deliveries in real-time and giving the company valuable data on delivery times, routes, and customer preferences.
The company has already had some impressive teachertn success in Portugal, where it has partnered with some of the country’s largest retailers, including Sonae and Continente. It has also received recognition for its innovative approach, winning the 2020 European Startup Prize for Mobility, an award that recognizes startups that are working to transform the mobility sector.
The funding round led by Sequoia pagalsongs Capital and TechCrunch’s Arrington XRP Capital is a significant milestone for Mascarenhas, and a testament to the company’s vision and potential. Sequoia Capital is one of the world’s most renowned venture capital firms, with a portfolio that includes some of the biggest names in tech, such as Apple, Google, and Airbnb. The firm has a reputation for backing game-changing startups, and its investment in Mascarenhas is a clear sign that the company is seen as a disruptor in the logistics industry.
For Mascarenhas, the funding will be used to yareel expand its operations across Europe and beyond. The company has already established a presence in several major cities in Portugal, including Lisbon and Porto, and plans to use the funding to expand into other European markets such as Spain, France, and Italy. The company also aims to develop new partnerships with retailers and logistics companies, and to continue to invest in its technology platform and fleet of vehicles.
The funding round also marks a significant moment for TechCrunch founder Michael Arrington’s Arrington XRP Capital. Arrington is a well-known figure in the tech industry, having founded TechCrunch in 2005, which quickly became one of the leading sources of tech news and analysis. Arrington XRP Capital is a venture capital firm that focuses on blockchain and cryptocurrency startups, and its participation in the funding round for Mascarenhas is a sign of the increasing convergence between the worlds of logistics and blockchain.
In a blog post announcing the investment, Arrington praised Mascarenhas’ approach to last-mile delivery, noting that “the company has built a world-class platform for on-demand logistics that leverages cutting-edge technology to provide a better experience for customers and businesses alike.” He also highlighted the potential for blockchain technology to enhance the logistics industry, saying that “blockchain can provide a level of transparency and security that is sorely lacking in the logistics industry, and we believe that Mascarenhas is well-positioned to take advantage of this.”
The funding round for Mascarenhas is just the latest example of the growing interest in the logistics industry from venture capitalists and other investors. The pandemic
