Sendle, Sydney-based logistics startup has announced it raised AU$19 million (US$13.8 million) to manage the unprecedented global demand in supply chain services caused by ecommerce.
Sendle will use the fresh funds to expand its shipping network, and hire some new members to support its accelerated growth.
The round of funding was heavily oversubscribed by both new and existing investors. New investors include King River Capital, a venture capital firm based in Sydney and San Francisco, Alberts Impact Capital and Marinya Capital. Already existing instors that participated in this round also include Rampersand, Full Circle Venture Capital and NRMA Insurance.
“Thanks to the backing of our investors, we will be able to invest even more in helping our small business customers compete during these critical times,” says Sendle CEO James Chin Moody. “Logistics is becoming an even more important part of the economy, and we stand ready to do our part.”
“Sendle is perfectly positioned for the future. It is a business that is meeting rapidly evolving consumer demands and needs, including in ecommerce, backed by sophisticated technology and in a way that is environmentally friendly,” says Zebediah Rice, Partner of King River Capital, the leading investor in this funding round. “It’s globally relevant and