News Summary

Toronto-based shipping logistics startup Portless has secured $24.7 million CAD in a Series A funding round led by Commerce Ventures. The company provides an innovative shipping solution to direct-to-consumer (D2C) retail clients, helping them navigate the complexities of trade wars and tariff policies. By offering a direct air transport model for small shipments, Portless allows retailers to defer import duties until goods are sold and cross into the US. The funding will be used to expand Portless’s operations with new fulfillment centers in Vietnam and India and to optimize their supply chain processes. CEO Izzy Rosenzweig, who previously founded Browze, transitioned to Portless in response to changing market conditions and privacy updates. The startup is experiencing rapid growth and aims to support medium-sized brands facing increased costs due to the removal of the ‘de minimis’ exemption.