URB-E, a Los Angeles, CA-based compact container delivery network replacing trucks with bikes, raised $5m in Series A funding.
The round was led by UBS Group.
The company intends to use the funds to further scale its local delivery networks.
Led by new CEO Charles Jolley, Sven Etzelsberger, Chief Technology Officer, and Peter Lee, co-founder and Chief Strategy Officer, URB-E is a compact container delivery network, replacing trucks with bikes and saving a massive amount of space in crowded urban centers.
The containers, designed by ex-Porsche and Fisker engineer Sven Etzelsberger, save a massive amount of space in crowded urban environments.
URB-E, through partnerships with major online retailers and logistics companies, has already deployed a fleet of pedal-powered container systems, with over 1,800 containers moving over 100,000 packages in New York City.