Mexican delivery startup, 99 Minutos, receives investment from ENGIE Factory

Founded in 2013, 99 Minutos is a last-mile delivery startup in Mexico committed to providing same-day delivery services for the e-commerce industry. With more than 1000 commercial clients, 99 Minutos currently makes approximately 3,000 deliveries per day. The startup recently received an undisclosed investment from corporate accelerator ENGIE Factory, which in turn received around 34% equity in the company.

ENGIE Factory is the accelerator connected to energy corporation ENGIE Group, based in Santiago, Chile. ENGIE Factory had been searching for Mexican startups to join its investment portfolio since 2017. ENGIE invests in projects relating to sustainable energy usage to help them become profitable businesses, focusing on energy decentralization, reduced carbon emissions, digitalization, and d-wasting (energy efficiency).

ENGIE operates in over 70 countries and has committed itself to helping the energy industry become more sustainable.

“Less than a year ago, we landed on Mexican soil with the objective of providing an economic push for a promising business idea. This investment is part of that push; 99 Minutos fully reflects the genius and enthusiasm that Mexican entrepreneurs exhibit. The logistics and delivery capacity of 99 Minutos are impressive!” said Engie Factory CEO, Jacques De T’Sercales, in the original press release.

 

Leave a Reply

%d bloggers like this: