„Millo Appliances“ attracted EUR 750k investment

2019

Millo Appliances, which has developed a quiet, smart blender that can be controlled via a smartphone.

Millo Appliances, which has developed a quiet, smart blender that can be controlled via a smartphone, has raised €750k from the Koinvesticinis fondas along with Iron Wolf Capital and three local angel investors. This brings Millo’s total investment so far to €1.5 million.

The company was founded in late 2015 with the goal of reimagining how we approach nutrition, leveraging technology and design to help people achieve healthier and more sustainable diets.

Millo’s technology makes it 3x quieter than the average blender, is cordless, and portable. The blender is the only in the world to use a magnetic engine, created and patented by the Millo team. The technology, called AirDrive, also allows Millo to blend by just placing a cup on top of the blender’s base, without needing to fix it into position.

“Millo is a smart home device for personal nutrition, more than an appliance,” said Ruslanas Trakselis, Millo’s founder and CEO. “It’s sleek in design, it’s portable, and it can be controlled with a smartphone. It’s not meant to just sit in the kitchen, but to be incorporated into people’s lifestyles in many different ways.” 

Millo will soon be unveiled at London’s Exclusively Electrical on June 11 in the Business Design Centre, and hopes to bring its product to the market in early 2020, beginning with the UK and Europe.

Source: www.eu-startups.com

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