Green delivery startup Packfleet bags $10 million in Series A funding, co-led by General Catalyst and Voyager Ventures

Carbon-neutral courier Packfleet has raised $10 million in Series A funding. 

This was co-led by General Catalyst, an early investor and Voyager Ventures, an early-stage climate fund.

All of Packfleet’s existing investors participated in the funding round, a roster that includes Creandum, Entree Capital and Founder Collective. 

The cash will bolster its presence in the London delivery market and also support the development of the firm’s proprietary routing software, Pathfinder.

Since launch in 2021, the B Corp certified courier has grown to more than 35 HQ employees, and now its 100+ drivers deliver for hundreds of businesses, including Who Gives A Crap, Pizza Pilgrims and HURR.

Tristan Thomas, CEO and Founder at Packfleet, says: “We’re delighted with the fundraise, and to be continuing our close work with General Catalyst. I’m also very excited to be welcoming Voyager on board, bringing their deep climate expertise to the world of logistics.”

“Our merchants are increasingly seeing how their customers care about a business’ environmental credentials, and investors are no different.”

“When we founded Packfleet, we set out to create a tech-enabled courier service that made deliveries better for everyone – not just customers, but merchants and drivers too.”

“We’ve proven that our model works, and with the backing of General Catalyst and Voyager, we look forward to continuing to change the logistics sector for good.” 

Juliet Bailin, Partner at General Catalyst, says: “Since our first investment in Packfleet’s pre-seed, we have been blown away by their customers’ positive feedback on the product and delivery experience.”

“The team has proven they can execute at speed and we believe they have made excellent progress on product, operations, revenue growth, and margin improvement.”

“The e-commerce market in the UK is one of the largest in Europe, and we are excited to support Tristan and team on their next stage of growth."

“Packfleet is a breath of fresh air for those merchants. Their human approach and in-house technology are combining to revolutionise the industry and set a new standard for couriers – one that's intuitive and efficient for everyone involved.”

“The business has made great strides since our initial investment in 2021. We look forward to supporting Packfleet well into the future and helping the business strengthen its foothold in the market.” 

Sarah Sclarsic, Founding Partner at Voyager, comments: “Decarbonisation makes good business sense in every sector of our economy. We believe Packfleet will be foundational in accelerating the decarbonisation of last mile logistics at a global level, starting in the UK.” 

“Packfleet’s market leading consumer experience and carbon-neutral operations are creating the future of parcel delivery. Their adjacent software products will make it easier than ever for companies and consumers all over the world to reduce their emissions.”

“Throughout this process we have been impressed with the founding team's laser focus on attractive unit economics at scale. We are delighted to partner with Packfleet and look forward to supporting the team on this exciting journey.”