Nearly half of consumers (46%) abandon their shopping carts if delivery waits are too long, according to research undertaken by Bodo.
This stat, along with the unprofitable landscape of the quick commerce sector, prompted the two co-founders to set up a sustainable, one-hour delivery service to tackle some of the issues that the industry faces.
Bodo was successfully launched in January and has since announced a $2.3M seed round. The round was led by BAM ventures, alongside Angels such as sweetgreen founder and CEO Jonathan Neman, serial investor Kal Vepuri, and Jon Shokrian, founder and CEO of MeUndies.
Advisors to the business include Sumesh Rahavendra, previously an executive at DHL and general manager at Amazon Spain & Germany, and Cameron Roberts, Chief Commercial Officer at Nando’s Group.
Bodo said the funding will be used to broaden the firm’s technology offering and extend its network of micro-fulfilment hubs across major cities and expand its consumer base.
“You can think of bodo as Amazon Prime for Direct-to-Consumer brands,” Green said.
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“ecommerce brands spend so much time and effort building their native channel, bodo allows them to offer a rapid, sustainable delivery experience without sacrificing crucial customer data and control to Amazon or an equivalent marketplace.”
Investor Brian Lee of Bam added: “The current delivery system is broken for both brands and their consumers.
“BAM invested in Bodo as it has the potential to solve ‘last-mile’ challenges by bringing businesses closer to their customers and providing them with a rapid and sustainable delivery option”
Bodo claims to offer rapid, sustainable deliveries in dense neighbourhoods, due to the fact that 51% of shoppers are conscious of the environmental impacts of ecommerce.
The company offers a simple integration plug-in to ecommerce platforms including Shopify, Salesforce, WooCommerce, Magento, and others.
It is currently working with mission-aligned brands including market-leading CBD brand, TRIP, Lucky Saint low alc beer, celebrity favourite AU Vodka, Beavertown and popular sustainable toothbrush brand, SURI, as well as apparel brands like Underdays and Madhappy.