Gordon Delivery raises SEK 150 million in new capital backed by eEquity.

Gordon Delivery, a Stockholm, Sweden-based startup providing last mile logistics solutions for the retail industry, announced the completion of a SEK 150 million ($17.7M) in capital funding.

The money was raised from Sweden-based venture company eEquity, which contributed with 100 million, joined by existing investors. The deal values the company at around SEK 1 billion.

The proceeds will be used to further develop the business, drive growth and invest more in international expansion in Finland, Germany, England and the Netherlands.

Gordon Delivery, founded in by CEO Ali Ghoce, provides last mile deliveries of refrigerated goods. In addition to the delivery services, the company sells SAAS as it licenses its technology platform to other companies that want to streamline their transportation.

The company produced sales of SEK 133 million ($15.7M) in 2020 and says it expects to reach SEK 500 million ($60M) in 2021.

Gordon Delivery previously raised a total of SEK 60 million.