Packfleet, a London-based logistics startup, has announced a successful Series A funding round, securing $10M (approximately €9.1M). The round was co-led by General Catalyst and Voyager, with additional participation from existing investors including Creandum, Entree Capital, and Founder Collective.
The UK company plans to utilize the funds to broaden its operations within London and extend its services to other British cities later this year. A significant portion of the investment will also be dedicated to the development of Packfleet’s proprietary routing software, Pathfinder.
CEO Thomas highlighted the growing importance of environmental credentials for both customers and investors. “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 stated.
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Zero-Carbon Deliveries with Packfleet
Founded in 2021 by former Monzo employees Hugo Cornejo, Tristan Thomas, and Josh Garnham, Packfleet specializes in delivery management platforms designed to enhance the delivery experience for businesses of all sizes. The company’s platform offers real-time tracking, estimated time of arrivals, and the ability to update addresses, delivery dates, and access instructions, leading to improved customer retention.
Currently operating a fleet of about 130 electric vans, the company has seen its package delivery volumes grow fivefold in 2023. “For new customers, this funding shows we are here to stay, that we have strong backing and are getting traction,” Thomas told Reuters.
With this latest funding round, the startup is poised to further its mission of providing zero-carbon delivery solutions, expanding its reach across the UK, and continuing to innovate in the logistics sector.
