Relay raises $10m in seed funding to launch a dedicated e-commerce delivery network in the UK.
The seed round was co-led by Project A and Prologis Ventures to fund nationwide expansion.
≈ £8.0M at $1 = £0.7979 on 23 Nov 2023
Relay operates a technology driven e-commerce delivery platform that uses artificial intelligence and hyperlocal networks to streamline last-mile logistics for modern retailers.
Relay has raised $10m in a seed funding round to launch the UK's first purpose-built e-commerce delivery network. The round was co-led by Project A and Prologis Ventures.
The capital will support the company as it rolls out its end-to-end parcel delivery service across the country over the coming year. Relay currently operates in London and works with several major enterprise retailers.
Founded in 2022, the company uses an asset-free network of hyper-local partners to reduce logistics overheads and improve sustainability compared to traditional delivery incumbents.
From the founder
"In Asia, delivery companies were built specifically for e-commerce – in Europe and the US, it was the exact opposite, with delivery companies built for a pre-internet world,"
Jonathan Jenssen
CEO at Relay
Investor perspective
"The parcel delivery landscape remains rooted in the pre-digital era. It’s time for a delivery solution built for the e-commerce age. We believe this can only be achieved by addressing the entire value chain, rather than just innovating the ‘last mile’. Relay’s lean operational model, coupled with the team’s exceptional industry knowledge and technology-centric approach, promises to radically disrupt the status quo in parcel delivery."
Philipp Werner
Partner, Project A
Use of funds
- 01Expand into international markets