UK-based parcel delivery service DPD has partnered with seed fund L Marks to launch an accelerator that will invest up to £112,500 ($170,000) in each of its startups.
Last Mile Labs will begin its first eight-week programme in April this year, providing each of the 10 startups in the accelerator with £12,500 in initial funding and access to £100,000 in long-term funding, as well access to DPD data and mentoring from industry entrepreneurs.
In a bid to meet the demands of growing online retail sales in the UK, DPD and L Marks are looking for startups with technology that can enhance customer experience, drive efficiencies and save money.
Dwain McDonald, chief executive of DPD, said: “Technology is so important to DPD. We have a big technology team, but often it is full up replacing the new lights on the old engine. That is not good enough now.”