- 26 November 2021
- Transport / Logistics Services
The owners of IKEA, Ingka Investments, have taken a minority stake in Swedish sustainable logistics platform Urb-it. Nasdaq Nordic listed Urb-it provides sustainable last mile deliveries across Europe, aiming at the same time to reduce air and noise pollution as well as congestion in urban areas.
“Urb-it is a rapidly growing business who want to create a positive impact on society and the environment with their zero-emission logistics services, so we are delighted to have made a minority investment. We are confident of their continued growth and see value in helping to support their expansion of zero-emission last mile deliveries in urban locations across Europe. It also aligns with our Ingka Group goal that all customer deliveries and services will be done using electric vehicles or other zero-emission solutions by 2025,” says Krister Mattsson, Managing Director of Ingka Investments.
Urb-it currently operates into nine cities in France and the UK, and with the investment plans to rapidly expand by setting up new hyper-local hubs and expanding its fleet in both current and new cities.
Kevin Kviblad, CEO of Urb-it, commented: “I am delighted to welcome Ingka Investments as a new investor. They invest with impact – and as a rapidly growing sustainable logistics platform, with a vision to transform urban logistics through creating a positive impact on society and the environment, our purpose is aligned with their investment strategy.
Across Europe we operate today in nine cities and have a first mover advantage from which we can continue to scale rapidly. We will continue to invest for growth by establishing hyper-local hubs in existing and new cities, scaling our e-cargo bike fleet and pursuing marketing opportunities. Through this we look forward to making our cities across Europe healthier and more sustainable.”