London-based HIVED, a startup that aims to reinvent modern parcel delivery, announced that it has raised £10M (approximately €11.28M) in a Series A round of funding.
With the raised capital, HIVED says it intends to disrupt the parcel delivery industry and become the number one sustainable delivery company in the UK and a major player in Europe within five years.
The round was led by Berlin-based Planet A Ventures alongside Maersk Growth and existing investors Eka Ventures and Pale blue dot.
Nick de la Forge, Partner at Planet A, says, “Globally, transport is expected to be one of the biggest sources of greenhouse gas emissions until 2050. With their commitment to sustainability and use of electric vehicles, HIVED is not only transforming parcel delivery but also helping to create a more environmentally friendly future.”
“Parcel delivery for the 21st century”
Founded in 2021 by Murvah Iqbal and Mathias Krieger, HIVED claims to be building the world’s first large-scale sustainable parcel delivery network. With an all-electric fleet and technology, the startup is assisting businesses in reducing their carbon footprint while providing “great” service.
According to the firm, traditional parcel transportation is failing to achieve environmental standards while customer demands for high-quality deliveries are growing.
The increasing package volume caused by e-commerce – 5.4 billion parcels were transported yearly in the UK alone in 2021 – necessitates emission-free and dependable solutions.
HIVED is addressing that need and revolutionising the logistics business by developing a streamlined, simple, and dependable parcel delivery network driven completely by an electric fleet.
HIVED is leading the market by making green delivery the standard for hundreds of firms, including ASOS, Zara, Pip & Nut, and Minor Figures, and is connected with Metapack, Shopify, Shiptheory, and others.
Murvah Iqbal says, “Our mission at HIVED is to decarbonise the logistics industry while setting a new standard for delivery quality. In an industry that has historically failed customers and the planet, we see the incredible need for HIVED’s solution and are rising to that opportunity, building a parcel delivery service that consumers genuinely enjoy and merchants can trust.”
HIVED is delivering on its vision via a technological stack, an in-house routing engine, and a consumer-facing user interface.
They’ve also added industry-first features, such as a dynamic delivery window ETA, live tracking, in-flight reroute options, customisable customer communications, and merchant dashboards with carbon-saving data.
By focusing on scalability rather than simply the last mile, HIVED stands out in the sustainable courier industry and increases its beneficial effects for shops trying to lower their Scope 3 emissions.
Capital utilisation
Mathias Krieger says, “This round of funding will enable us to scale HIVED as a truly mass-market, sustainable delivery network. From our point of view, parcel delivery is ripe for disruption and HIVED is the clear solution.”
“We look forward to using this round of funding to build the network out across the UK so that more retailers and consumers can decarbonise their deliveries and benefit from a high-quality delivery experience.”
Since its inception, HIVED claims to have a 30 per cent increase in income MoM and has already received over £1.74M in initial money.
In addition to providing countrywide collections across the UK for hundreds of businesses, the firm has expanded its head office to 40 employees and is about to debut with many major shops. The company now ships to the entirety of Greater London.
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