Lithuanian startup Ziticity attracts 2.2 million Euro investment from Japanese-funded NordicNinja VC fund
Lithuanian startup Ziticity, which provides city logistics services, attracted 2.2 million Euro investment from NordicNinja, a venture capital fund financed by Japanese companies and JBIC Bank, and its partners. The investment was jointly funded with Practica Capital (Lithuania), Superhero Capital VC (Finland), Superangel VC (Estonia), Startup Wise Guys (Estonia) and Maksim Golivkin (USA). This is the first NordicNinja investment in Lithuania and only the second one in the Baltic States. Furthermore, this is the first completely remote NordicNinja investment enabled by the digitization of Lithuanian financial and governmental services.
Founded in 2017, Ziticity empowers local businesses to compete with the dominance of global online marketplaces by providing the platform for affordable same-day deliveries. Since launch, Ziticity has been a success in France and the Baltics, and is used by over 220 companies. Now the company is getting ready for further expansion into other European markets. The company uses cars, scooters and bicycles for delivery and optimizes the choice of the vehicle according to the package and distance, thus minimizing urban congestion and pollution.
The company has been steadily growing 22% month over month ever since the launch with a sharp 44% revenue increase during COVID-19.
“The delivery industry is expected to increase dramatically and 2.1 billion people are expected to buy goods online by 2021. On top of that, current global pandemic changes people’s behavior and habits like how they buy, sell and eat at an unprecedented rate. We believe that Ziticity’s solution is a kind of silver lining approach for the industry and end-users which need to adjust for new normal. ” – says Tomosaku Sohara, Managing Partner at NordicNinja VC.
