UK cargo bike delivery company Zedify has secured a £4m investment from Barclays Sustainable Impact Capital, Mercia Ventures, the Midlands Engine Investment Fund and Green Angel Syndicate.
The funding will support Zedify’s expansion into more cities in the UK, as well as launch a new Midlands hub in October this year.
Currently delivering in Brighton, Bristol, Cambridge, Edinburgh, Glasgow, London, Manchester, Norwich and Plymouth, Zedify plans to operate in 51 UK towns and cities within the next five years.
The company said it also plans to enhance its technology and expand its teams of riders, sales and customer care staff.
What’s more, Zedify said it expects to create 80 new jobs, including 20 at the new Midlands hub, and to triple its turnover in the year ahead.
READ MORE: Evri plans for ‘UK’s biggest’ e-cargo bike parcel delivery fleet
Rob King, co-founder and CEO of Zedify, comments: “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, parcel carriers and independent businesses to provide more sustainable last-mile deliveries using cargo bikes.
READ MORE: E-cargo bikes to deliver parcels in Belfast as Amazon opens new micromobility hub
The £4m funding round follows a £5m investment from Barclays, Mercia and Green Angel in March 2023.
Since then, the company has reportedly almost doubled the size of its team from 113 to 209 and signed up national brands including Hello Fresh, Selfridges and Veja.
Additionally, Zedify recently reported that use of cargo bikes saves more than 8o% of CO2e emissions per kilometre compared to electric vans.
Achievements and innovations in last mile solutions will be celebrated at the third annual CiTTi Awards, which will be held on 26 November 2024 at De Vere Grand Connaught Rooms in London. Nominations are open now! Please visit www.cittiawards.co.uk to learn more about this unmissable event for the UK’s transportation sector
