- 18 August 2020
- Transport / Logistics Services
Australian last mile delivery company Sendle has announced it has raised AUD $19 million in order to help small and medium businesses (SMBs) meet the spike in e-commerce demand, expand its shipping network and support accelerated growth.
The funding round was oversubscribed and was supported by King River Capital, a venture capital firm based in Sydney and San Francisco, alongside Alberts Impact Capital and Marinya Capital. King River brings expertise across both Australian and US markets as Sendle expands internationally.
In addition they were accompanied by returning investors Federation, Rampersand, Full Circle Venture Capital and NRMA Insurance.
The 100% carbon neutral delivery company has now reached the milestone of half a million customers in Australia and the US.
Sendle CEO and Co-founder, James Chin Moody commented: “During COVID-19, we’ve seen our economy and hundreds of thousands of Australian small businesses become more reliant than ever on a robust logistics network, so we want to make sure their parcels get to the intended destination efficiently, cost-effectively and sustainably. It’s pretty tough at the moment for everyone, but we’re throwing everything we can at ensuring our network is even more robust and reliable during these trying times.
“Thanks to the backing of King River Capital, Alberts and our existing investors, we will be able to invest even more in helping our small business customers compete during these critical times. Logistics is becoming an even more important part of the economy, and the small business economy in particular, and we stand ready to do our part.”
King River Capital Partner, Zebediah Rice, said: “Sendle is perfectly positioned for the future. Its exceptional leadership team has created a business that is meeting rapidly evolving consumer demands and needs, including in eCommerce, backed by sophisticated technology and doing so in a way that is environmentally friendly. It’s globally relevant and scalable and the growth opportunity is huge.”