Participated · Seed · Jul 2024

Coldcart is the first orchestration and optimization platform for frozen and refrigerated parcel logistics, automating and optimizing every step from order to delivery. For each order the platform decides the optimal combination of routing, packaging, and shipping based on realtime factors including cost, on-time delivery, weather, and provider availability. Those decisions are executed across a growing network of 15 fulfillment centers and multiple carriers, and the platform powers a network that reaches 99% of U.S. residents and businesses. Coldcart reports its technology reduces perishable logistics costs by 15–50% per shipment and refundable shipments by 40–60%. With the new funding the company plans to grow its installed base of perishable shippers and logistics providers to amplify network effects and further increase operational efficiency. The market opportunity cited: in 2023 U.S. companies shipped approximately 3 billion perishable parcels and spent over $76 billion in warehousing, packaging, and transportation, with inefficiencies consuming over 40% of sales.

Led · Equity · Aug 2021

Suma Brands is a Minneapolis-based roll-up that acquires third-party brands selling and fulfilling orders via Amazon. It focuses on buying successful Amazon merchants to consolidate operations and scale them using centralized services. The company says it will use new capital primarily for acquisitions while deploying a smaller equity tranche to build out its tech stack and core business. Suma emphasizes operational support — supply-chain management, sourcing, performance marketing, brand building, multi-channel selling, and working capital — and describes itself as founder-focused in its approach. Leadership includes co-founder Andrew Savage (formerly at Amazon, Target and Dolls Kill), Matt Salzberg (founder and former CEO of Blue Apron), and Jon Dussel (former CFO of Dolls Kill). The company declined to disclose valuation or the total number of brands acquired; named portfolio companies include Lone Cone and Turmaquik.