Logistics technology firm DoDo Group raises €60m in Series B funding

Czech firm DoDo Group, which specialises in last mile B2B logistics technology, has announced a €60 million Series B funding round led by EC Investments and J&T Capital. 

The cash will be used to further develop DoDo’s platform and drive its expansion into Western and Southern Europe.

This is the company’s largest investment to date, following a year which saw it nearly double its annual revenue to almost €40 million.

DoDo’s network of over 2,000 couriers in seven countries combined to deliver over four million shipments in 2021, and it is looking to increase turnover to €80 million+ in 2022.

Michal Menšík, CEO at DoDo Group, says: “We have grown from a startup into a champion of our field and we make no secret of our ambition to continue to join Europe's premier business league.”

“We have a great service that has stood up to even the biggest and most demanding multinational retail chains at home and abroad.”

“Now is the time to leverage our technological edge and operational capabilities and start changing the established standards of last mile delivery in other European markets.”

“I believe we have found the best possible partners for our ambitious goals, who have extensive experience in building a pan-European business,"

Branislav Miškovič of EC Investments says: "The investment in DoDo is attractive to us in a number of ways, the main one being that the company combines last-mile logistics with retail in an interesting and innovative way, areas in which we are investing significantly within the wider EP Corporate Group.”

“Thanks to the know-how of the DoDo team and the breadth of our portfolio, I am confident that we will be able to collaborate on further exciting joint projects in the future,"