Weengs raises £6.5m funding
Smart logistics start-up Weengs has raised £6.5 million in Series A funding.
The London firm partners with eCommerce businesses to get online orders to their customers reliably and efficiently.
The investment round was led by venture capital firm Oxford Capital with participation from seed investors Local Globe, Cherry Ventures and Venture Friends.
Weengs has grown more than 10x in the last 18 months and now has about 400 retailers as customers, and has fulfilled more than 500,000 online orders to date.
Weengs will invest in automation and technology to ramp up its capacity to cope with 15,000 eCommerce orders per day and also seek to expand its operations out of London and around the UK.
“The future is in eCommerce and the logistics problem was holding retail business owners back,” said co-founder and CEO Pier Ronzi.
“We provide a seamless experience that increases consumer confidence to buy from anyone.”
Oxford Capital partner William Orde will join the company’s board.
“Weengs’ logistics service combines both tech and operational innovation to transform packaging and posting customer orders for retailers from a messy back-room task to a scalable third-party service,” he said.
“We’re excited by the leverage Weengs service gives to small retailers as they move online and to back Pier and the team as they disrupt this space.”