Funding Roundup: Airhouse, Sourceful, Pi Beam Electric and Other Early-Stage Deals

It has been yet another great week for startups in the e-commerce, logistics and supply chain space. In this week’s Ecosystem Funding Roundup, we are happy to feature 7 of their amazing achievements:

Sourceful Series A Funding

Sourceful is a supply chain transparency startup that helps brands minimize the environmental damage associated with product sourcing choices. For its initial push, the company is focusing on packaging, an area that is notorious for having high carbon emissions. Their platform allows brands to experiment with different design variations and see in real-time how those choices impact the carbon footprint of each order. The $20M Series A funding will help fuel its expansion into international markets and also double the size of its team within the next two years.

• Year Founded: 2020

• Founders: Sharon C., Wing Chan

• Location: Manchester, United Kingdom

• Latest Funding: $20M Series A

• Lead Investors: Index Ventures, Coatue, Eka Ventures

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Kwik Series A Funding

Kwik is a Nigerian logistics and delivery company connecting businesses to independent delivery riders, also known as Kwisters. Founded in mid-2019, Kwik has rapidly expanded both in terms of customer base and services, with 100,000 merchants to-date. Through the $2M funding from its recent Series A, the company will add financial services to its existing last-mile offerings, bringing it one step closer to its goal of becoming the prime app choice for African vendors and merchants. 

• Year Founded: 2019

• Founders: Romain Poirot-Lellig

• Location: Lagos, Nigeria

• Latest Funding: $2M Series A

• Lead Investors: XBTO Ventures

Dispatch Series A Funding 

Dispatch, the leading B2B last-mile delivery platform, has completed a $50M Series C round to support its expansion into 50 additional markets across the country. Through the combination of its software and on-demand last-mile delivery network, Dispatch is satisfying an intense need for rapid, seamless deliveries in today’s marketplace. According to the CEO and Co-Founder Andrew Leone, “partnering with SpeakSpan is a win-win” as the firm not only understood their product and mission but also aligned with their core values.

• Year Founded: 2016

• Founders: Andrew Leone, Ryan Hanson

• Location: Minnesota, United States

• Latest Funding: $50M Series C

• Lead Investors: PeakSpan Capital

Parcelly Series A Funding

UK’s Parcelly is a carrier agnostic logistics tech platform that allows e-commerce companies to hire excess storage space in real estate. Since its inception in 2014, the company has worked with global clients including DHL Express, Delivroo and UberEats. Through its proprietary mobile app technology, Parcelly is revolutionizing the world of urban logistics to meet the growing consumer expectations, along with efficiency and sustainability goals. The team hopes to use the $6.7M from its latest equity investment to accelerate its platform development, as well as its strategic expansion in the U.S. and continental Europe.

• Year Founded: 2014

• Founders: Sebastian Steinhauser

• Location: London, United Kingdom

• Latest Funding: $6.7M Series A

• Lead Investors: Scania Growth Capital

Yami Series B Funding 

Yami is the largest direct-to-consumer (DTC) online marketplace in North America specializing in Asian food, products and household goods. For 15 years now, the company has brought the world closer by providing authentic experiences of Asian culture to consumers across the region. Following the $50M Series B led by Altos Ventures and Balsam Bay Partners, Yami is looking to invest in emerging technologies and further its US expansion by setting up another warehouse in New Jersey. 

• Year Founded: 2013

• Founders: Alex Zhou

• Location: California, United States

• Latest Funding: $50M Series B

• Lead Investors: Altos Ventures, Balsam Bay Partners

Pi Beam Electric Pre-Series A Funding 

Pi Beam Electric is an Indian logistics and transportation startup that offers end-to-end sustainable EV solutions with data-driven analytics to enhance productivity in last-mile logistics space. With climate change concerns taking center stage globally, Pi Beam has become a key player in the country’s aggressively growing EV ecosystem. The $1.7M injection from the latest financing round will enable the company to further develop the technology and infrastructure needed to empower the millions of stakeholders in the industry.

• Year Founded: 2013

• Founders: Visakh Sasikumar

• Location: Chennai, India

• Latest Funding: $1.7M Pre-Series A

• Lead Investors: Inflection Point Ventures

Airhouse Series A Funding

Airhouse is a next-generation fulfillment firm helping brands manage their logistics. By connecting its intuitive software with warehouse management systems of its 3PL partners, Airhouse makes it easier for businesses to get up and running. With the $11M from the DNX Ventures-backed Series A, the company will be ramping up investments in “building a best-in-class e-commerce operations platform for high-growth, modern brands.”

• Year Founded: 2018

• Founder: Kevin Gibbon, Sarah Siwak

• Location: California, United States

• Latest Funding: $11M Series A

• Lead Investors: DNX Ventures

A huge congratulations to all and we are looking forward to witnessing your growth in the months to come!

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