Manchester-based logistics startup Sorted secures €16.5 million Series B investment to expand internationally | EU-Startups
Summary
The startup has raised €16.5 million in a Series B funding round led by Merian Chrysalis, alongside Praetura Ventures and NVM Private Equity LLP. The funding will provide the business with additional capital to accelerate the pace of their technology development and international expansion, as well as increasing employee headcount. Working with a number of leading companies including ASOS, Lush, N Brown, Wincanton and Clipper Logistics, Sorted is continuing to develop its disruptive technology, while pursuing a strong pipeline of potential retail partners globally. “Sorted is rewriting the rules when it comes to delivery, and we’re delighted to be pushing forward with our global growth,” said David Grimes, founder and CEO, Sorted. “We are excited to provide David and the team with the growth capital required to continue developing truly innovative technologies and expand internationally.’’ “We first invested in Sorted in 2013 and are delighted with the progress the business has made over the last six years as it has developed its tech platform and won a number of tier one retail clients,” said Mike Fletcher, Chairman of Sorted and Group CEO of Praetura.
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