Announcing HIVED’s $12.4m Series A
We are thrilled to share our $12.4 million Series A funding round led by Planet A Ventures, with continued strong participation from our existing investors Maersk Growth, Eka Ventures and Pale blue dot.
Today, we’re thrilled to announce HIVED’s Series A funding. This new round of investment enables us to accelerate our growth as we continue to build the best parcel delivery experience and cement our position as the leading sustainable parcel delivery provider in the UK and other key European markets.
Parcel delivery has skyrocketed, with 5.4 billion parcels delivered annually in the UK due to the societal shift to e-commerce. But, according to Bain & Co, logistics is the UK’s worst performing sector, with an NPS score of minus 13. Customer service has been notoriously poor and recipients are often frustrated with the experience. Additionally, globally transport will be one of the biggest sources of greenhouse gas emissions until 2050, which is why we are all the more committed to making a tangible contribution in decarbonising logistics by operating an entirely electric fleet.
Since raising our initial seed round in August 2021, we’ve consistently grown our revenue 30% month over month, delivering for some of the biggest retailers including ASOS, ZARA as well as some of the fastest growing SME’s such as Candy Kittens, Vitl and Pip & Nut etc. We’ve grown our head office to 40, drivers to over 1000 and delivered to millions of customers with a 5 out of 5 rating on Trustpilot.
Building an exceptional parcel delivery experience
Delivering parcels in the 21st century means building for atoms and not bits. Ecommerce is decentralising and at HIVED we’re building the logistics infrastructure prioritising people and the planet. We’re pioneering in building the best experience for our retailers and recipients through modern technology stack, novel in-house routing engine and innovative consumer facing UI. We’ve already introduced several industry-leading features, including a dynamic delivery window ETA, live tracking, in-flight redirect options, customisable customer communications and merchant dashboards with carbon-saving reporting.
We operate an entirely electric fleet and one of the first companies to be operating entirely electric line haul transportation – which dramatically helps retailers reduce their scope 3 emissions.
With this new funding, we’ll be investing further into our team, technology and a state of the art new warehouse, which will be industry leading to facilitate our ever growing EV fleet and allow us to absorb 20x more than our current site.
Welcoming Planet A
This new round of investment was led by Planet A with continued strong participation from our existing investors Maersk Growth, Eka Ventures and Pale blue dot. We are extremely grateful for their continued support and commitment to HIVED.
A big thanks to our customers, team members and investors — we are excited to continue working with everyone to build the best parcel delivery experience!