France-based localised logistics startup Stuart has raised €22m ($23.5m) in a series A round led by GeoPost, the logistics subsidiary of postal service Le Groupe La Poste, TechCrunch reported yesterday.
Stuart, which is still operating in stealth mode, is preparing to launch a local logistics service that will work “by allowing anyone to deliver anything at any time,” and which TechCrunch understands will offer same-hour delivery.
The app will focus on business-to-business delivery, but should also be available to individuals. Stuart’s technology can reportedly manage fleets of drivers efficiently and where necessary pool deliveries in order to cut costs.
The company expects to initially launch the service in Paris, Barcelona, Brussels, London and Berlin. It previously raised €1.5m in seed funding from entrepreneurs including J.D. Blanc, J.A. Granjon and O. Mathiot.
GeoPost secured a minority stake in Stuart through the investment, which was made around three weeks after it acquired an 80% share of online restaurant food delivery marketplace Resto-In. Resto-In founder Clement Benoit is one of Stuart’s three co-founders.