The tech-enabled, carbon-neutral courier Packfleet has raised US$10m in Series A funding that will be used to bolster its presence in the London delivery market.
The funds will also be used to support the expansion of Packfleet’s increasing roster of merchants and the development of Pathfinder, its proprietary routing software.
The round was co-led by General Catalyst and Voyager Ventures, with all of Packfleet’s existing investors participating in the funding round.
Tristan Thomas, CEO and co-founder of Packfleet, said, “We’re delighted with the fundraise, and to be continuing our close work with General Catalyst. I’m also very excited to be welcoming Voyager on board, bringing their deep climate expertise to the world of logistics.
“Our merchants are increasingly seeing how their customers care about a business’ environmental credentials, and investors are no different. When we founded Packfleet, we set out to create a tech-enabled courier service that made deliveries better for everyone – not just customers, but merchants and drivers too.
“We’ve proven that our model works, and with the backing of General Catalyst and Voyager, we look forward to continuing to change the logistics sector for good.”
Since launch in 2021, the courier has grown to more than 35 HQ employees and 100+ delivery drivers. The company boasts a parcel failure rate of only 0.07%.