Zedify, the cargo bike delivery network, has secured an additional £4 million investment to expand its presence across more UK cities, including the launch of a new Midlands hub scheduled for October this year.
Funding for this expansion comes from Barclays Sustainable Impact Capital, Mercia Ventures, the Midlands Engine Investment Fund (MEIF), and Green Angel Syndicate.
The investment will also support technological enhancements and the growth of Zedify’s teams, including riders, sales personnel, and customer care staff. Zedify anticipates creating 80 new jobs, with 20 positions allocated to the Midlands hub, and aims to triple its turnover in the upcoming year.
This latest funding round builds on a previous £5 million investment received from Barclays, Mercia, and Green Angel in March 2023.
Gavin Chapman, co-head of principal investments at Barclays, highlighted the complexity of transitioning sectors to net-zero emissions, particularly in logistics.
He noted, “Zedify has identified that hyper-local delivery models are needed, in combination with low-carbon transport, to decarbonise the industry, reducing pollution within the UK’s cities.”
Since the previous investment, Zedify has nearly doubled its team size from 113 to 209 members and onboarded national brands such as HelloFresh, Selfridges, and Veja.
Currently operational in Brighton, Bristol, Cambridge, Edinburgh, Glasgow, London, Manchester, Norwich, and Plymouth, Zedify aims to expand its footprint to 51 UK towns and cities within the next five years.
Rob King, co-founder and CEO of Zedify, expressed enthusiasm about the growing interest from leading retail brands and businesses nationwide to adopt more sustainable last-mile logistics solutions.
He emphasized, “This investment will be crucial to our growth, enabling us to scale operations and meet the demands of our rapidly expanding customer base.”
