London-based logistics e-commerce startup Relay Technologies, a delivery network that optimizes e-commerce operations, has raised $35 million in Series A funding, bringing its total funding to $50 million. The round was led by Plural.
- Launched in 2022 by Nicole Mazza and Jonathan Jenssen, Relay Technologies provides a tech-enabled delivery network that optimizes e-commerce operations for both retailers and couriers.
- Designed to deliver faster, more efficient services, the platform offers retailers real-time tracking and full visibility over deliveries while ensuring flexibility for couriers, who can choose their work schedules and pre-book routes.
"This infrastructure is central to how the startup can offer cheaper and more reliable deliveries, and will also reduce the number of vans on our roads, tackling the congestion and pollution that comes from last mile delivery, which it’s estimated to account for up to 20-30% of city emissions," Partner at Plural, Taavet Hinrikus, commented.
- The service adapts to demand, scaling during peak periods, and prioritizes sustainability with eco-friendly transport options.
- Relay has already secured contracts with major e-commerce companies like Vinted, TikTok, Temu, ASOS, and THG, with three of them so confident in Relay's potential that they are investing in this funding round.
Details of the deal
- The investment was led by Plural, which recently raised its second fund of €400 million to drive a GDP-level impact in Europe.
- Project A, early-stage tech investors in Europe with a portfolio of over 115 companies and a ticket range of $1 million to $10 million, and Prologis Ventures, the VC arm of global logistics real estate leader Prologis, also participated in the round.
- The fresh funds will help Relay expand its infrastructure, including more sorting centers and local distribution hubs, while further developing its tech platform to optimize delivery efficiency.
- The capital will also support scaling operations, onboarding more clients, and improving service reliability, all while reducing costs and environmental impact.
