Business & Investment

Last mile delivery companies Axle Hire and Swyft secure a total of $ 37.5 million in funding

As money continues to flow into space, two last mile delivery companies have secured millions of investment funds.

on Wednesday, Axle Hire Announced that it has completed $ 20 million in a Series B funding round led by Ajax Strategies. Also on Wednesday, Swyft announced that it had secured a $ 17.5 million Series A round jointly led by Inovia Capital and Forerunner Ventures.

Based in Emeryville, CA, Axle Hire offers same-day and next-day delivery services. New funding, including participation from Eclipse Ventures, Quiet Logistics, Bee Partners and Acorn Pacific Ventures, will be used to strengthen its sorting technology, expand its network of locations and expand its staff.

Adam Bryant, CEO of Axle Hire, said: “This new investment from Ajax Strategies is ready to level the competition for providing cost-effective, reliable same-day and next-day deliveries to different shippers.”

AxleHire was founded by Daniel Sokolovsky, who grew up on a family courier. Sokolovsky realized that many of his business tasks were repetitive and required manual adjustments, and he used his math background at Berkeley to work with a group of engineers to work on the solution. It was.

The result was Axle Hire. It uses line holes and sorting components to improve the last mile process. The company will place sorting hubs near major metro locations and leverage a network of transportation providers such as traditional carriers, courier companies, and gig economy drivers to seamlessly complete the final miles of e-commerce delivery.

Milo Werner, a partner at Ajax Strategies, said: “By leveraging dynamic routing to integrate packages between vehicles, Axle Hire can provide the most affordable, low-carbon, same-day / next-day logistics services.”

Axle Hire is participating in Zero emission delivery zone (ZEDZ) Pilot in Santa Monica, California. The ZEDZ program is supported by many major companies, including: IKEA, Guayaki, Arsco uniform, Food cycle, Shopify And REEF technology.. According to the Los Angeles Clean Tech Incubator (LACI), the company will voluntarily deploy and test zero-emission modes for last mile delivery around downtown Santa Monica, Main Street and Ocean Park.Technology providers include LACI startups Automotus, Maxwell Vehicle, circuit And FreeWire Not only collaboration with Here, Kiwibot, tortoise, Lolo, Blue Systems, Fluid track, Motiv Power Systems, Nissan, ROUSH CleanTech And Lightning e-motor..

According to Crunchbase, Axle Hire has secured a total of $ 35.4 million in funding.

Swyft Net $ 17.5M

Like AxleHire, Swyft aims to revolutionize same-day and next-day delivery. With the additional participation of Shopify and existing investor Golden Ventures and Trucks VC, we landed a $ 17.5 million Series A round co-led by Inovia and Forerunner Ventures.

Swyft has no assets, but uses logistics technology to optimize courier workflows and act as a connector between retail brands and end consumers. According to Crunchbase, the company, which currently raises a total of $ 20.1 million, has a wealth of logistics experience behind it. Co-founders Aadil Kazmi (CEO) and Zeeshan Hamid (Head of Engineering) both spent time at Amazon (NASDAQ: AMZNMeanwhile, Revenue Officer Maraz Rahman has extensive experience in startups and e-commerce.

Swyft’s technology drives the e-commerce delivery business to courier companies, optimizing their delivery operations and reducing costs by about 25%. Kazmi told TechCrunch..

“The Swyft platform is the only model designed to extend both sides of the market without making huge capital investments. This delivery is called via API. Technology replaces labor and physical assets. With its unique asset-optical model and strong network effect, it can solve SMB’s regional problems and corporate national problems, “Hannah Chelkowski said. Innovia Blog..

Chelkowski said there were no signs of a slowdown in e-commerce, and companies like Swyft offer the opportunity to “adjust the turmoil” in last mile logistics.

“On the delivery side, we combine existing courier companies to build a large virtual delivery fleet and provide real-time delivery updates via carrier dashboards and multi-party optimized routing. , Swyft is integrated into SMB’s checkout experience and offers dynamic delivery options regardless of retailer’s fulfillment strategy (ie, store, warehouse, shipping from 3PL), “Chelkowski writes. ..

Click here for more modern shipper articles by Brian Straight.

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Last mile delivery companies Axle Hire and Swyft secure a total of $ 37.5 million in funding Last mile delivery companies Axle Hire and Swyft secure a total of $ 37.5 million in funding

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