HIVED secures $42 million in Series B funding for electric delivery

Investing.com -- HIVED has raised $42 million in Series B funding to expand its all-electric delivery network across the UK and enhance its AI-powered logistics platform.

The company has delivered over 6.5 million parcels across Greater London for major retailers including John Lewis (JO:LEWJ), Nespresso, Uniqlo and Zara, maintaining a 99% on-time delivery rate. HIVED plans to use the new capital to accelerate hiring, expand into several new UK cities, and further develop its proprietary logistics intelligence platform called HIVEDmind.

Founded with a focus on ecommerce delivery, HIVED has built its network from the ground up rather than retrofitting legacy systems. The UK represents the world’s third-largest ecommerce market after China and the US, accounting for approximately 10% of the country’s GDP.

The company’s team has grown to more than 120 people, with 20% having started as drivers. HIVED’s technology has reduced "Where Is My Order" customer inquiries by more than 90% compared to other carriers, while its claims rate for lost or damaged items is reportedly 10 times better than industry standards.

HIVED consistently achieves customer satisfaction ratings above 90%, significantly outperforming the industry average of 32%, according to the company.

"At HIVED, we’ve taken a fresh approach – rethinking everything from first principles, putting technology and experience at the centre, and proving there’s a better way to do this at scale. This raise is a huge step forward in making great delivery the norm, not the exception," said Murvah Iqbal, Co-founder and CEO of HIVED.

The Series B round follows the company’s seed funding in 2021 and Series A announcement in 2023.

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