Latest news with #Hived
Time of India
a day ago
- Business
- Time of India
UK delivery startup Hived raises $42 million to expand network
Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Popular in TechMore ≫ UK parcel delivery startup Hived , which uses AI to help manage its network, said on Thursday that it has raised $42 million in funding from investors to expand its operations across most of Britain over the next two Series B round of funding was led by Japanese-backed venture capital firm NordicNinja and included investments from Wex Venture Capital , Marunouchi Innovation Partners and Elemental which uses an entirely-electric fleet of delivery vans and heavy goods vehicles, has signed up retailers including John Lewis, Uniqlo, Zara, and Nespresso for e-commerce company is one of a number of startups that are using electric vehicles to meet demand for low emission new funding will be used to expand Hived's delivery network outside London, CEO Murvah Iqbal said that starting later this year, Hived will serve southern UK cities, before expanding rapidly to the rest of the country."We aim to cover 80% of the UK within the next two years," she said. "That's what we're on track for."The company will also consider whether to expand physically into other markets or instead licence out its technology, she has used AI to develop its own postcode system based on customer volume and demand. The same system also collects data on deliveries that is used to mentor drivers, Iqbal said."Every day, a driver will receive some feedback to help them perform better," she said.
Times
a day ago
- Business
- Times
Hived raises $42m to roll out its electric delivery trucks
An ecommerce logistics firm set up by a former Manchester City women's youth team captain has raised $42 million from Japanese-backed investors to expand its all-electric fleet across southern England. Murvah Iqbal, co-founder and chief executive of Hived, said they would use the cash to begin taking their services to cities such as Bristol, Bath and Brighton from September, with the aim to then expand to Birmingham and Manchester in the second half of next year. Hived has delivered more than 6.5 million parcels across London using its 250 couriers for the likes of John Lewis, Uniqlo and Zara since its launch in 2021. It has developed its own parcel-tracking software to improve the performance of the couriers delivering the parcels to 99 per cent on-time, and says it reduces customer inquiries about the timing of deliveries and slashes the rate of claims for failed deliveries or damaged goods.
