London-based Hived, a delivery network powered entirely by electricity, has raised $12.4 million in Series A funding. The investment round was led by Planet A Ventures, with contributions from existing investors Maersk Growth, Eka Ventures, and Pale Blue Dot. The company plans to use the funds to expand its team, enhance its technology, and establish a new warehouse.
Hived is developing a large-scale electric delivery network that integrates with platforms such as Metapack, Shopify, and Shiptheory. The network offers a dynamic delivery window ETA, live tracking, in-flight redirect options, customizable customer communications, and merchant dashboards with carbon-saving reporting. Since its initial seed round in August 2021, Hived’s revenue has grown 30% month-over-month, delivering for major retailers like ASOS and ZARA, as well as rapidly growing SMEs like Candy Kittens, Vitl, and Pip & Nut. The company has expanded its head office to 40 employees and its driver base to over 1,000.