Sorted raises £10.9m in Series B follow-on funding led by Chrysalis Investments to fuel international growth and acquisitions.
The Manchester-based delivery software provider secured backing from Chrysalis Investments to support product development and global expansion.
Sorted is a London-based recycling technology business providing artificial intelligence-enabled solutions to sort recyclable materials. Its proprietary technology uses computer vision and spectroscopy to identify items and guide human pickers at recovery facilities.
Sorted has secured £10.9m in Series B follow-on funding, part of a wider $15m raise, led by Chrysalis Investments. The fresh capital will be directed towards international expansion, product development, team growth, and the acquisition of leading brands.
The Manchester-based scale-up has experienced surging demand as online retail accelerated during the pandemic. The company reported a 100% year-on-year increase in shipment volume for 2020 and notable platform growth in early 2021, while expanding its portfolio of retail clients.
From the founder
"As consumer demand for rich customer delivery experiences soars, Sorted is having a huge impact on the retail industry. As it continues to support retailers to better serve their customers, the company’s incredible growth so far is a journey that I’m proud to be a part of,"
Mike Fletcher
Chairman at Sorted
Investor perspective
"We are delighted to provide Sorted with additional capital which will enable them to execute their ambition growth strategy. The recent pandemic has accelerated channel shift and Sorted are well placed to benefit from this trend, evidenced recently by some very exciting enterprise customer wins."
Richard Watts
Portfolio Manager, Chrysalis Investments
Use of funds
- 01Fund acquisitions
- 02Continue product development
- 03Grow the team
- 04Expand into international markets
