Toyota Tsusho Corp leads MOOVA's Recent US$5mn financing round

This is an automated translation of the original release published in Spanish.

PRESS RELEASE from Toyota Tsusho Corp -MOOVA

Santiago, June 27, 2023. Toyota Tsusho Corporation, the business division of the Toyota Group and a global leader in various industries, is pleased to announce its participation and investment in the latest round of financing from MOOVA Inc., a leading last-mile logistics technology company founded in 2018, which offers digitization and artificial intelligence solutions for the logistics industry.

Toyota Tsusho Corporation (JPN) invested $3 million of the $5 million total in this financing round, along with other investors such as FJ Labs (USA), Alaya Capital (ARG), Galicia Ventures (ARG), Aybe Investments (UK), Kalei Opportunities (USA), Wayra (SPAIN) and other private investors. This strategic investment not only supports MOOVA's business expansion, but also aims to foster collaboration and address critical challenges in the logistics sector, ultimately contributing to the realization of a sustainable logistics society.

MOOVA makes 1 million monthly shipments in Latin America, without adding a single vehicle to the streets. It achieves this through the combination of its own operations, shipments through agile postal services and collaborations with logistics companies that license and operate MOOVA's technology to distribute for the last mile. Under a B2B business model, the company operates a state-of-the-art digital logistics platform, connecting companies and drivers in nine Latin American countries, including Mexico, Colombia, Argentina, Chile, Peru, Uruguay, Paraguay, Guatemala, and Bolivia. It also licenses powerful delivery management software (SaaS) to companies, which allows efficient planning, vehicle allocation, delivery tracking and use of idle space that lowers transportation rates. By optimizing logistics operations and promoting carbon neutrality, MOOVA improves the overall efficiency of the logistics industry.

"We are continuously growing and consolidating our ambition to become the leading technology-based last-mile delivery provider in Latin America. Through digitization, automation and artificial intelligence solutions, we improve the performance and efficiency of deliveries by optimizing routes, reducing vehicle usage and leveraging idle capacity We believe the time is right to expand our technology globally Our partnership with Toyota Tsusho further strengthens our proposition to deliver sustainable logistics, both for traditional companies and for e-commerce companies. Our upcoming expansion to Costa Rica and the arrival of our technology in Brazil are the next objectives to achieve," explains Antonio Migliore, Founder and CEO of MOOVA, who also serves as Mentor of Endeavor.

"MOOVA has shown from the very beginning of its founding that technology is the key to transforming the logistics business. We have found in this company a strong team capable of leading the transformation that will make transportation and delivery systems more efficient and reduce costs in any industry," says Shigeru Harada, Division CEO, Mobility Division, Toyota Tsusho Corporation.

With the exponential growth of e-commerce and the consequent increase in demand for last-mile delivery services in Latin America, there is a pressing need for advanced technological solutions to modernize logistics processes. MOOVA has emerged as a leader in digitization and artificial intelligence applications for the last-mile delivery industry, guided by its vision to reimagine logistics for a sustainable world.

Toyota Tsusho's investment in MOOVA will actively support the company's business and technology expansion, leveraging the Toyota Tsusho Group's global network. This collaboration aims to create valuable synergies by integrating MOOVA services into Toyota Tsusho's mobility business in the region. Together, both companies strive to solve critical social issues in the Latin American logistics industry, making substantial contributions towards realizing a sustainable logistics society and promoting carbon neutrality.

Through this investment and collaboration, Toyota Tsusho reaffirms its commitment to drive innovation and sustainability in the logistics sector. The combined efforts of Toyota Tsusho and MOOVA are poised to revolutionize last-mile delivery in Latin America, paving the way for a greener and more efficient future.

About Toyota Tsusho Corporation

Toyota Tsusho Corporation was founded in 1948 as the trading company of the Toyota Group. Today, Toyota Tsusho, with approximately 67,000 group employees in some 130 countries, strives to contribute to the creation of prosperous societies. Toyota Tsusho continues to expand as a global leader in vehicle exports and automotive production support. The company has seven operating divisions (Metals/Global Parts and Logistics/Mobility/Machinery, Energy and Projects/Chemicals and Electronics/Food and Consumer Services/Africa).

About MOOVA Inc.

MOOVA Inc. is a technology startup with B2B solutions and services for last-mile logistics. As a G20 Digital Innovation Network Startup Award Winner <https://www.acnnewswire.com/press-release/english/78004/g20-digital-innovation-network-(din):-catalyst-for-digital-economy-growth-in-indonesia> in the logistics and sourcing category, held in Indonesia in 2022, through the use of new technologies, MOOVA seeks to transform the logistics industry with its technology that allows: optimizing last-mile operations and consequently promoting carbon neutrality. Its mission is to provide logistics solutions for a sustainable world. To date, MOOVA stands out as the only Latin American company that has obtained certification as a Mercado Libre partner in six Latin American countries, which allows it to operate in Meli Flex, the Same Day or Next Day delivery service of the leading e-commerce company in the region.