Photo - Velo
59145

Velo

Israel
Market: Other, Artificial Intelligence
Stage of the project: Operating business

Date of last change: 06.12.2022
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Idea

Velo is a SAAS platform that solves retailers' last mile solution and reduces up to 50% of the business delivery cost and shortens delivery times to same day.

Current Status

We are now operating in the Israeli market with 3 exclusive partners and over 70 clients.
Up to date, we have raised a pre-seed.
So far we are contracted for a $500K ARR.

Problem or Opportunity

Today one of the retailers most significant challenges is reducing delivery time and being more efficient.
One of the common ideas for that is turning stores into logistical points.
Unfortunately, stores; live inventory accuracy is an average of 64% accuracy, and to turn stores to a logistical point requires at least 90% live inventory accuracy.
Besides that, there is a need for a tool to make this happen, and that costs a lot.

Solution (product or service)

Velo platform inception can increase live inventory accuracy to 95.8%, allowing us to be in a game of true store-to-door solutions.
That can reduce delivery costs by up to 50% and smaller the delivery times from 5-7 days on average to only a few hours.

Business model

We are a saas subscription-based product.
We also charge clients according to their transaction volume.
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