The E-commerce business in Latin America is estimated to be around USD 85 billion. And in the coming three years, these numbers are likely to double, as the current consumer demand to receive orders on time is steadily rising. There is a high demand for speedy deliveries at lesser costs in such a market. And for decades, organizations like MercadoLibre and Amazon have attempted to perfect their delivery and logistics technology. However, recently startups too are working towards honing this specific technology, as it can alter the way marketplaces operate.
The Argentina-based startup clicOH, has come up with the latest shipping technology that can revolutionize how e-commerce businesses function in Latin America. Given its groundbreaking ideas, the company has raised over USD 25 million in its Series A funding round. Tiger Global, an investment firm, led this round. Other firms like JAM fund, Flexport, Vast VC and FundersClub also joined in on this funding round. Adding up all the investments, the startup is currently valued at USD 33 million.
ClicOH, a 2021 Y Combinator alum, operates in four countries- Argentina, Mexico, Uruguay and Chile. The proprietary technology allows sellers to track their shipments in real-time using a dashboard. This dashboard comes with crucial indicators and traceability features.
In an interview with TechCrunch, the CEO of clicOH, Novillo Saravia, said that Latin America was not prepared infrastructurally to handle the post-pandemic surge in eCommerce. This has been why e-commerce businesses continue to suffer in the region as technological and infrastructural changes are still being made. As of 2021, only 5 per cent of the retail sales were made online in the year. But despite these challenges and hurdles, Latin America continues to be one of the fastest-growing regions globally. Saravia added that receiving more funding is crucial and fundamental to the enterprise’s growth.
Saravia also stated that the eCommerce business issues could be overcome with better data and efficiency. The startup claims that its asset-light model allows them to 100 per cent penetrate the countries in which they operate. They also aim to understand customer behavior and store this data to speed up their shipping times.
About ClicOH
Headquartered in Cordoba, Argentina, ClicOH is a startup founded in February of 2018. This upcoming enterprise aims to provide fulfilment solutions through technology and innovation for the digital companies of Latin America. The founders of this startup are Juan Martin Altamirano, Martin Dionisi, Agustin Novillo Saravia and Emiliano Segura. The company offers comprehensive logistic services for companies based in Latin America, and so far, the startup is operating in Mexico, Chile and Uruguay. They work by connecting various logistical operators with existing infrastructure through their platform, which enables shipments to occur in 24 hours or less. In addition, the company claims that the prices for these shipments are lower than the traditional postal services of the region. So far, the company has seen investments from 3 investors in its Series A funding round.
