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Frayt Raises $7 Million, Brings Last-Mile On-Demand Delivery To Over 50 Major U.S. Markets

Apr 11, 2023•over 2 years ago

Amount Raised

$7 Million

CincinnatiSupply Chain ManagementLogisticsTransportationSaasE CommerceSoftware

Investors

Jobs Ohio Growth Capital FundVenture 53Capital MidwestRefinery Ventures

Description

FRAYT, the last-mile on-demand delivery and logistics platform, today announced that it has closed $7 million in Series A funding, led by Refinery Ventures with participation from Capital Midwest, Venture 53, and the JobsOhio Growth Capital Fund. FRAYT will use the financing to drive product innovation, support rapid market expansion and grow its leadership team.

Company Information

Company

Frayt Technologies

Location

407 VINE STREET, SUITE 175

Cincinnati, Ohio, United States

About

FRAYT is a last-mile on-demand delivery and logistics technology company that offers businesses professional, on-demand shipping through an intuitive web platform and mobile app. The company has over 12,000 drivers in over 50 markets across the United States, headquartered in Cincinnati, Ohio. For more information, please visit www.frayt.com.

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Funding Insights

Based on industry data
VC-backed spending patterns
VC-backed companies spend 89% more on sales and 100% more on marketing than bootstrapped peers