Zero emission parcel logistics firm HIVED delivers £10m in funding
A £10m Series A funding round has seen Planet A Ventures and Maersk Growth, an arm of AP Moller-Maersk, back the London-based zero-emissions start-up.
A zero-emissions parcel delivery firm whose clients include ASOS is raising £10m as it tries to take on the industry's biggest operators.
Sky News understands that HIVED, which was founded two years ago by Murvah Iqbal and Mathias Krieger, has secured the Series A funding from investors led by Planet A Ventures.
HIVED operates an all-electric delivery fleet of cargo bikes, offering UK-wide collection delivery across Greater London for international retailers such as ASOS and Zara.
Other investors in the round include Maersk Growth, the venture arm of the Danish shipping and logistics giant AP Moller-Maersk, and existing backers Eka Ventures and Pale blue dot.
The fundraising will be announced publicly on Thursday.
HIVED wants to exploit continued growth in the parcel delivery market, with 5.4 billion delivered in the UK in 2021, according to the company.
Ms Iqbal said the company's aim was 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 claims to have seen 30% month-over-month revenue growth since its launch, and previously secured £1.75m.
It now employs 40 people at its head office, and also works with partners including Candy Kittens.
Nick de la Forge, a partner at Planet A, said: "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."
Sky News understands that HIVED, which was founded two years ago by Murvah Iqbal and Mathias Krieger, has secured the Series A funding from investors led by Planet A Ventures.
HIVED operates an all-electric delivery fleet of cargo bikes, offering UK-wide collection delivery across Greater London for international retailers such as ASOS and Zara.
Other investors in the round include Maersk Growth, the venture arm of the Danish shipping and logistics giant AP Moller-Maersk, and existing backers Eka Ventures and Pale blue dot.
The fundraising will be announced publicly on Thursday.
HIVED wants to exploit continued growth in the parcel delivery market, with 5.4 billion delivered in the UK in 2021, according to the company.
Ms Iqbal said the company's aim was 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 claims to have seen 30% month-over-month revenue growth since its launch, and previously secured £1.75m.
It now employs 40 people at its head office, and also works with partners including Candy Kittens.
Nick de la Forge, a partner at Planet A, said: "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."