British same-day and e-commerce delivery firm Shutl has secured additional funding worth $3.2million to be spend on its global expansion plans, especially in North America, with the
announcement of various cities where it plans to start operating in 2013.The $3.2 million investment adds to a total of around £3m ($4.75m) the company has raised sofar.
This new investment led by Shutl’s existing shareholders and two new investors e.ventures andNotion Capital follows the previously announced funding of $2 million from the UPS StrategicEnterprise Fund, a UPS investment arm, and existing investors, including GeoPost and equity fundHummingbird Ventures. The previous round of funding left UPS and GeoPost each with 6% in thecompany.
In the first quarter of 2013, Shutl plans to launch operations in the USA via variousmulti-channel retailers with New York and San Francisco as the first cities. During the secondrollout phase, 10 additional North American cities will be added: Atlanta, Boston, Chicago,Houston, Los Angeles, Miami, Philadelphia, Washington, Montreal and Toronto.
Shutl explained that its point-to-point delivery model enables delivery of online purchaseseither within minutes of ordering or a one-hour window of the shoppers’ choice. Major UK retailersalready offer the service across the country.
Tom Allason, Founder and CEO, Shutl, commented on the two new investors: “e.ventures and NotionCapital have a wealth of experience as both investors and entrepreneurs launching disruptive webservices all over the world. We are delighted to be supported by them and our existing investors inour efforts to build a brand that changes delivery forever, in the UK, the US and beyond.”
Andreas Haug, Partner at e.ventures said: “We are convinced that innovative logistics conceptsthat enable a faster, more comfortable and more reliable delivery will act as significant growthengines for e-commerce. Shutl is the pioneer in this segment and perfectly positioned to enterinternational markets.”
Jos White, Partner at Notion Capital, added: “Shutl provides an innovative solution to the ‘lastmile’ delivery challenge giving customers the products they want, when they want them.”
