Eurora management team: (from left) Marko Lastik (founder), Anneli Aljas (CFO), Egon Veermäe (COO).
Eurora Solutions raises $40M in Series A to tackle e-commerce shipping delays caused by EU regulation changes.
TALLINN, Estonia, May 10, 2022 (GLOBE NEWSWIRE) — Eurora Solutions, an Artificial Intelligence/Machine Learning-backed (AI/ML) cross-border e-commerce compliance platform, is pleased to announce that its management team will take part in the World Mail & Express EMEA conference between 10-12 May in Dubai, United Arab Emirates.
The Company’s attendance follows Eurora’s oversubscribed $40m Series A round, announced last month. Eurora plans to use the funds for global expansion, including in the Middle East, where rapid and high growth in the sector is expected – between 2016 and 2020 alone, the size of the e-commerce industry quadrupled in the region.
On Wednesday 11th of May, Eurora’s COO, Egon Veermäe, will present the company introduction titled “Reshaping Cross-Border Trade with AI-Based Solutions,” which will give an overview of Eurora’s AI/ML-based e-commerce compliance platform that automates tax, compliance and customs services and can be used by online sellers, marketplaces, logistics and postal companies, and tax and customs authorities.
Eurora’s COO, Egon Veermäe, said: “I look forward to introducing Eurora at this leading e-commerce conference. Our platform is already used by hundreds of clients worldwide helping with tax and customs procedures. We view the Middle East as a priority market, and I’m confident that we’ll be able to find new potential partners that could benefit from Eurora’s platform and add value to our existing customers.”
Eurora’s platform automatically processes 5,000 requests per second with up to 96% accuracy, the highest level of accuracy, speed, and automation available on the market. It operates at a fraction of the time and price of hybrid or manual code allocation solutions commonly used today. It assigns e-commerce products an appropriate HS code, calculates the applicable VAT and duty amounts, and automatically creates electronic declarations for duties and taxes via simple API integration.
Interested parties can learn more about Eurora’s proprietary e-commerce compliance platform at Eurora’s conference booth no 15 located at the InterContinental Dubai Festival City.
The following representatives of Eurora will be present at the WMX EMEA and available for meetings:
- Egon Veermäe – Chief Operating Officer, Eurora
- Asko Pukk – Product Manager, Eurora
- Ardi Ghorbani – Director of Partnerships, Eurora
- Majed Zambaraji – CEO MENA, Eurora
- Muhammad Abid – Customs Compliance Manager, Eurora
For more information:
| Name | Position | |
| Anneli Aljas | CFO | [email protected] |
A photo accompanying this announcement is available at https://www.globenewswire.com/