Shutl secures additional $3.2 million in equity investment
Shutl, the e-commerce delivery service, has today announced that it has secured an additional $3.2 million in equity investment.
The funding was led by Shutl’s existing shareholders and two new investors e.ventures and Notion Capital and will be used to drive the company’s North American launch in Q1 2013.
Andreas Haug, partner at e.ventures, said: “We are convinced that innovative logistics concepts that enable a faster, more comfortable and more reliable delivery will act as significant growth engines for ecommerce. In addition, offline retail will benefit from these solutions, which allows local retailers to acquire and retain customers online. Shutl is the pioneer in this segment and perfectly positioned to enter international markets. We are excited to work with Tom and his team on an international basis and grow this business to become the worldwide leader in local delivery.”
Tom Allason, founder and CEO of Shutl, added: “e.ventures and Notion Capital have a wealth of experience as both investors and entrepreneurs launching disruptive web-services all over the world,” comments. “We are delighted to be supported by them and our existing investors in our efforts to build a brand that changes delivery forever, in the UK, the US and beyond.”
This news follows a $2 million investment earlier in the year from UPS Strategic Enterprise Fund, Hummingbird Ventures, amongst others.