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Happy return
Have you heard about reverse logistics? If you haven’t, you’re probably familiar with the concept behind it: e-commerce returns.
Mexico-based entrepreneur Agustín Schuti told my colleague Christine Hall that the reverse logistics process in Latin America “is a mess” — a mess his company Devolut hopes to fix, with $600,000 in seed funding.
But globally, Devolut is not the only startup in this space. There’s YC Combinator alum Rever and Philadelphia-based ReturnLogic. But Schotti told Christine that US company Happy Returns, which PayPal acquired in 2021, is the company he hopes to emulate, with a network of “city points”.
But what caught my attention more than just the physical footprint is the number of revenue-focused startups that say they use AI in some form. For example, Devolut is leveraging AI to provide new product recommendations as part of the returns and exchanges process.