- 21 November 2019
- Transport / Logistics Services
Underground pipes could be used to deliver parcels if UK startup Magway achieves its aims.
The startup is aiming at raising £750,000 in seed funding through the crowdfunding site Crowdcube. The money is to start rolling out the Magway pipe network as well as further IP registration and the expansion of its core team.
The advantages of delivering parcels through pipes, according to Magway, would be to reduce air pollution, accidents and congestion caused by delivery vehicles using the streets.
Magway has raised almost £1.5 million in seed funding and grants since it was founded in 2017. Some £650,000 of this came from the UK government technology innovation agency Innovate UK.
Rupert Cruise, co-founder and managing director of Magway, said, “This funding round will take the development work that we’ve already completed to the next level of a commercial pilot and move the UK closer to providing a lower carbon, less congested and safer transport infrastructure.”