Logistics startup raises £6.5m to serve the future of UK ecommerce retailers
Smart logistics startup, Weengs has secured £6.5m in Series A funding following a partnership with ecommerce businesses.
The investment round was led by venture capital firm Oxford Capital and was followed on by Weeng’s seed investors, including Local Globe, Cherry Ventures and Venture Friends.
Weengs is using the funding to invest heavily in automation and technology to transform its operations to be able to fulfil more than 15,000 ecommerce orders per day.
Weengs supports retailers who are seizing the growth of the ecommerce opportunity by providing a ship-from-store logistics solution that delivers the experience consumers expect, at no hassle to the retailer.
Co-founder and CEO of Weengs, Pier Ronzi, said: “Oxford Capital is the right investor to have on board as we embark on this ambitious next phase of growth for the business.
“Their deep experience with ecommerce businesses and their strong network in the UK market will be invaluable.
“We’re hugely excited for the next phase of Weengs and we’re one step closer to fulfilling our mission to keep ecommerce moving and retail entrepreneurs thriving.”
Weengs collects orders daily from retailers’ stores, packs them back at the Weengs warehouse and ships them to customers.
Pier added: “The future is in ecommerce and the logistics problem was holding retail business owners back. We provide a seamless experience that increases consumer confidence to buy from anyone.”
To improve its service offering, Weengs is using the funding to invest in automated operations in its new warehouse – said to be five times the size of its previous one.
Weengs is also building a data integration solution with retailers to optimise its fulfilment needs, such as delivery speed and packing customisation.
Soon, Weengs aims to offer full bespoke packing automation through machinery and proprietary software which will enable the startup to fulfil more than 15,000 orders per day.
It will also be able to expand its geographical coverage outside of London to the rest of the UK, which has the third largest ecommerce market in the world.
William Orde, a partner at Oxford Capital, who is joining the board, concluded: “Weengs logistics service combines both tech and operational innovation to transform packaging and posting customer orders for retailers from a messy back-room task to a scalable third-party service.
“We’re excited by the leverage Weengs service gives to small retailers as they move online and to back Pier and the team as they disrupt this space.”