Cargo bike delivery firm secures additional funding for expansion plans
Zedify, a cargo bike delivery network, has secured an additional £4m investment from Barclays Sustainable Impact Capital, Mercia Ventures, and Green Angel Syndicate.
The funding will facilitate Zedify’s expansion into more UK cities, including the launch of a new Midlands hub later this year.
The Birmingham-based firm plans to improve its technology and expand its teams, creating 80 new jobs, including 20 in the new Midlands hub and triple its turnover in the year ahead.
Its latest investment follows a £5m funding round in March 2023 from the same investors.
Since then, Zedify has nearly doubled its team size, growing from 113 to 209 employees and has signed up national brands including Hello Fresh, Selfridges, and Veja.
Rob King, co-founder and CEO of Zedify, said: “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 collaborates with retail brands like Zara, parcel carriers, and independent businesses to provide sustainable last-mile deliveries using cargo bikes.
The bikes reduce CO2 emissions by over 80% per kilometre compared to electric vans.
Currently operating in cities such as Brighton, Bristol, Cambridge, London, Manchester, Norwich, Plymouth, Edinburgh, and Glasgow, Zedify aims to expand to 51 UK towns and cities within the next five years.
Gavin Chapman, co-head of principal investments at Barclays said: “The transition to net zero emission for many sectors is not as simple as swapping from high-emitting fuels to renewables, and this is particularly true of the logistics industry. Zedify have identified that hyper-local delivery models are needed, in combination with low-carbon transport, in order to decarbonise the industry, reducing pollution within the UK’s cities.”