Zedify secures £4m from Barclays, Mercia, MEIF and Green Angel to scale its delivery network
The funding round was backed by Barclays Sustainable Impact Capital, Mercia Ventures, the Midlands Engine Investment Fund, and Green Angel Syndicate to fuel expansion.
Zedify operates a network of zero-emission urban delivery services across the United Kingdom using electric cargo bikes and local depots.
Zedify has secured four million pounds in fresh funding to expand its cargo bike delivery network into additional British cities and enhance its proprietary technology. The latest investment round was backed by Barclays Sustainable Impact Capital, Mercia Ventures, the Midlands Engine Investment Fund, and Green Angel Syndicate.
With the new capital, the company plans to scale its operations, launch a regional hub in the Midlands, and grow its workforce. The funding follows a previous five million pound injection in March 2023 and aims to support rapid business growth over the coming year.
Investor perspective
"The transition to net zero emission for many sectors is not as simple as swapping from high-emitting fuels to renewables, and this is particularly true of the logistics industry. Zedify have identified that hyper-local delivery models are needed, in combination with low-carbon transport, in order to decarbonise the industry, reducing pollution within the UK’s cities."
Gavin Chapman
Co-Head of Principal Investments, Barclays Sustainable Impact Capital
Use of funds
- 01Expand into international markets
- 02Continue product development
- 03Grow the team
Investors
Gavin Chapman
Barclays Sustainable Impact Capital
Ruth Coleman
Mercia
Midlands Engine Investment Fund
Green Angel Syndicate