8till5 reports that Olivetree, the thirteen man strong company developing the Myloc solution, has secured an investment by a couple of angels, led by Readsofts founders Jan Andersson and Lars Appelstål.
Olivetrees cloud service Myloc launched in 2013 and is a logistics network which allows companies to share information with each other and follow a parcel. The tool can be used to facilitate deliveries to construction projects, such as transport and loading and unloading of goods. The first customers are in the construction industry, where about two hundred companies, including NCC and Peab, use Myloc.
Now the company takes the next step and launching a service for companies that work with long transport chains. The first customer is DB Schenker.
“The conditions for logistics and transports are changing all the time. We want to give the owner of the goods the opportunity to work with several transport solutions and easily customize their flows.” says Anders Eklund, CEO at Olivetree.
8till5 reports that Olvietree raised € 850 000, from Readsofts founders Jan Andersson and Lars Appelstål, as well as Lennart Pihl and Tim Hansen.
The focus of Olivetree will be on the Swedish market.
“We get some inquiries from abroad, but there is no short-term plan to expand outside Sweden. It is three to five years ahead – first we’ll be strong at home.” says Anders.
Olivetree had sales of € 1.2 million in 2014 and made a profit after financial items of € 120 000. Anders Eklund says to 8till5 that growth is expected to be 50 percent during 2016.