Barclays has invested in Zedify, the UK’s largest e-cargo bike delivery network, providing a sustainable and eco-friendly delivery service across ten UK cities. The investment will enable the Cambridge-based company to significantly increase its network by rolling out the service to many other UK cities, including Manchester and Birmingham.
Gavin Chapman, Co-Head of Principal Investments, adds: “We understand that the delivery and logistics industry will require significant investment over the coming years to align with the UK’s net zero targets. Barclays is proud to support Zedify in their goal to normalise the use of hyper-local micro hubs and zero emission delivery vehicles within UK cities.”
Zedify has secured £5m investment led by Barclays Sustainable Impact Capital and MEIF Proof of Concept & Early Stage Fund, which is managed by Mercia and part of the Midlands Engine Investment Fund, with participation from existing investor Green Angel Syndicate.
This is the latest investment Barclays has made through its Sustainable Impact Capital portfolio, which has a mandate to invest £500m into global climate tech start-ups by the end of 2027. This is one of the ways the bank is helping to support its clients’ transition towards a low-carbon economy, part of its climate strategy.
Zedify’s zero emissions service focuses on ‘first and last mile’ deliveries within city centres, where vans are less efficient due to traffic congestion and exacerbate air pollution. The company works in partnerships with leading national delivery firms, as well as big retail brands and hundreds of regional and local businesses.
Zedify operates ‘microhubs’ on the edge of city centres where parcels are consolidated for onward delivery. It also has its own fleet of cargo bikes and its own technology platform which gives consumers a choice about when they receive deliveries and analyses the most cost-effective cycle routes.
Rob King, co-founder and CEO of Zedify, says: “Zedify’s model delivers tangible benefits- significant carbon reduction in the last mile; a fairer system for workers which counteracts the gig economy; cleaner, safer deliveries that contribute to healthier, more liveable cities; and more choice for consumers about how and when they receive their parcels.
It’s exciting to have the backing of new and existing investors to enable us to realise our mission to transform urban logistics and create cities that are truly better for everyone.”
Zedify was founded in 2018 by King, who had previously run a delivery business in Cambridge, and Sam Keam, who had a similar operation in Brighton. They set out to make it the ‘go to green solution for last-mile delivery in the UK’. The company uses only directly employed staff who are paid a real living wage and, to encourage local ownership, its network includes both depots run by Zedify and franchises.
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