London-based Packfleet, a logistics startup, announced on Tuesday that it has secured $10M (approximately €9.1M) in a Series A round of funding, co-led by General Catalyst and Voyager.
Other existing investors, including Creandum, Entree Capital, and Founder Collective, participated in the round.
The UK company will use the funds to expand its operations within the city and to other British cities later this year, reports Reuter. Additionally, the capital will be used to develop the company’s proprietary routing software called Pathfinder.
“Our merchants are increasingly seeing how their customers care about a business’s environmental credentials, and investors are no different,” says CEO Thomas.
“When we founded Packfleet, we set out to create a tech-enabled courier service that made deliveries better for everyone – not just customers, but merchants and drivers too,” he adds.
Packfleet: Offering zero-carbon deliveries
Packfleet was founded in 2021 by former MOnzo employees — Design Hugo Cornejo, Tristan Thomas, and Josh Garnham.
The company specialised in delivery management platforms intended to help businesses of all sizes improve their delivery experience.
The company’s platform offers real-time tracking, estimated time of arrivals, and the ability to update addresses, delivery dates, and access instructions. This helps businesses offer a better delivery experience, leading to increased customer retention.
At present, the company operates a fleet of about 130 electric vans, and its package delivery volumes grew fivefold in 2023.
“For new customers this funding shows we are here to stay that we have strong backing and are getting traction,” Thomas tells Reuters.
