Zedify secures five million pounds from Barclays Sustainable Impact Capital and Mercia to expand its electric delivery network.
The funding round was led by Barclays Sustainable Impact Capital and MEIF Proof of Concept and Early Stage Fund to support national expansion and job creation.
Zedify operates a zero emission urban delivery network across the United Kingdom using specialized cargo bikes. The business partners with major retailers and independent traders to provide sustainable last mile logistics.
Zedify has secured five million pounds in a funding round led by Barclays Sustainable Impact Capital and the MEIF Proof of Concept and Early Stage Fund. Green Angel Syndicate also participated in the financing. The capital will allow the Cambridge-based electric cargo bike network to expand its operations into new urban centres such as Birmingham and Manchester while significantly increasing its headcount.
The company utilises edge-of-centre microhubs to consolidate parcels before dispatching them via electric cargo bikes and proprietary routing technology. This latest injection of capital follows a period of sustained growth in which the firm has doubled its revenue annually over the past four years, supported by previous backing from Green Angel Syndicate.
From the founder
"Zedify’s model delivers tangible benefits- significant carbon reduction in the last mile; a fairer system for workers which counteracts the gig economy; cleaner, safer deliveries that contribute to healthier, more liveable cities; and more choice for consumers about how and when they receive their parcels. It’s exciting to have the backing of new and existing investors to enable us to realise our mission to transform urban logistics and create cities that are truly better for everyone."
Rob King
CEO at Zedify
Investor perspective
"We understand that the delivery and logistics industry will require significant investment over the coming years to align with the UK’s net zero targets. Barclays are proud to support Zedify in their goal to normalise the use of hyperlocal microhubs and zero emission delivery vehicles within UK cities."
Gavin Chapman
Co-Head of Principal Investments, Barclays Sustainable Impact Capital
Use of funds
- 01Expand into international markets
- 02Grow the team
- 03Continue product development
Investors
Gavin Chapman
Barclays Sustainable Impact Capital
MEIF Proof of Concept & Early Stage Fund
Green Angel Syndicate