Cargo bike delivery network provider Zedify has secured an additional £4m (US$5m) investment to enable it to expand into more UK cities and open a new Midlands hub this October.
The funding, which was provided by Barclays Sustainable Impact Capital, Mercia Ventures, the Midlands Engine Investment Fund (MEIF) and Green Angel Ventures, will allow Zedify to enhance its technology and significantly expand its teams of riders, sales and customer care staff. Zedify expects to create 80 new jobs, including 20 in the new Midlands hub, and to triple its turnover in the year ahead.
This funding round follows a £5m (US$6.3m) investment from Barclays, Mercia and Green Angel in March 2023. Since then, the company has almost doubled the size of its team from 113 to 209 and signed up national brands including Hello Fresh, Selfridges and Veja.
Rob King, co-founder and CEO of Zedify, commented, “We are seeing a real appetite from leading retail brands and UK-wide businesses looking to transform their last-mile logistics and invest in more sustainable delivery models, which is why we have ambitious plans to triple in size this year. This investment will be paramount to that growth, helping us scale to meet the needs of our rapidly expanding customer base.”
Founded in 2018, Zedify works with major retail brands including Zara, along with parcel carriers and independent businesses to provide more sustainable last-mile deliveries using cargo bikes, which have been shown to save over 80% of CO2e emissions per kilometer compared to electric vans.
The company currently operates in Brighton, Bristol, Cambridge, Edinburgh, Glasgow, London, Manchester, Norwich and Plymouth, and plans to operate in 51 UK towns and cities within the next five years.