Zedify, a Cambridge, UK-based electric cargo bike delivery network, raised £5M in funding.
The round was led by Barclays Sustainable Impact Capital and MEIF Proof of Concept & Early Stage Fund, which is managed by Mercia and part of the Midlands Engine Investment Fund, with participation from existing investor Green Angel Syndicate.
The company intends to use the funds to to roll out the service to more locations including Birmingham and Manchester and more than double in size with the creation of over 120 jobs nationwide including 20 in the Midlands. The company also plans to move it headquarters to Birmingham.
Founded in 2018 by Rob King, and Sam Keam, Zedify operates ‘microhubs’ on the edge of city centres where parcels are consolidated for onward delivery. It also has its own fleet of electric cargo bikes and its own technology platform which offers consumers a choice about when they receive deliveries and optimises for the most cost-effective and low-impact routes.
The company works in partnerships with leading national delivery firms as well as big retail brands and hundreds of regional and local businesses.
FinSMEs
17/03/2023