HIVED Secures £31 Million to Boost Logistics Network
Revolutionizing Logistics: HIVED Secures $42 Million Funding
In a bold leap towards transforming the parcel delivery landscape, HIVED has successfully raised $42 million (£31 million) in a Series B funding round. This significant investment was spearheaded by NordicNinja, a prominent venture capital firm renowned for its support of innovative logistics solutions like Bolt and Einride. With participation from notable investors such as Wex Venture Capital, Marunouchi Innovation Partners, and Yamato Holdings, this funding is set to catapult HIVED's AI-powered logistics network to new heights. As the UK’s most-loved parcel delivery service, HIVED delivered over 6.5 million parcels with an impressive 99% on-time rate for high-profile brands such as John Lewis and Uniqlo.
What sets HIVED apart in the crowded logistics field is its uniquely engineered HIVEDmind platform, designed specifically for the demands of ecommerce.
Unlike conventional logistics firms that retrofit outdated systems, HIVED has built its operations from the ground up, employing AI and real-time data to streamline every stage of parcel delivery—from depot to doorstep. By eliminating traditional postcodes and implementing dynamic delivery clusters, this platform offers unparalleled features: real-time tracking, fraud detection, and electric vehicle routing. Such innovations not only enhance operational efficiency but also deeply resonate with retailers looking to optimize their supply chains.
The results of this innovative approach speak volumes, with HIVED achieving a staggering 90% customer satisfaction rate—far surpassing the industry average. According to co-founder and CEO Murvah Iqbal, this funding will empower HIVED to expand its team and extend its electric logistics network to new UK cities. "Parcel delivery should feel seamless, not stressful," Iqbal asserts, as he envisions a future where great delivery experiences become the norm. As investors continue to flock to this groundbreaking startup, it's clear that HIVED is not just reshaping parcel delivery; it's setting the standard for the future of logistics in the ecommerce era.
Key Terms Explained
- Series B funding
- The second round of financing for a business by private equity investors or venture capital firms. This funding is aimed to help the company grow faster through planet-wide scaling and/or expanding.
- Venture capital
- A form of private equity financing that is provided by venture capital firms or funds to startups, early-stage, and emerging companies that have been deemed to have high growth potential or which have demonstrated high growth.
- AI-powered logistics
- The use of artificial intelligence in the field of logistics to improve and streamline operations based on real-time data. AI can help optimize processes for picking, packing, and shipping goods, improving efficiency and reducing costs.
Frequently Asked Questions
- How much funding has HIVED raised during its Series B round?-HIVED has raised $42 million (£31 million) in its Series B funding round.
- Who led the investment round for HIVED?+
- What are unique features of HIVED's platform?+
- How was the funding expected to benefit HIVED?+
- Which investors participated in HIVED's funding round?+
They've invested in HIVED
Get to know these Ecommerce investors
| # | Investor | Sector | Stage | Activity | Team | Connect |
|---|---|---|---|---|---|---|
1 |  Wex Venture Capital | 1 investment(s) investment(s) | more info | |||
2 |  Marunouchi Innovation Partners | 1 investment(s) investment(s) | more info | |||
3 |  Elemental Impact | 1 investment(s) investment(s) | more info | |||
4 |  Yamato Holdings | 2 investment(s) investment(s) | more info | |||
5 |  Future Back Ventures by Bain and Co | 1 investment(s) investment(s) | more info | |||
6 |  Rocketship VC | 1 investment(s) investment(s) | more info |
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