UK based e-commerce delivery company Shutl has raised $3.2m ahead of its US launch in 2013. The online company delivers parcels within a one hour given time slot. The funding was led by existing investors venture capital fund Hummingbird Ventures and the corporate venturing unit of UPS. There was also participation from new investors e.ventures and venture fund and advisory business Notion Capital.
Founded in 2008, Shutl previously raised $217k in seed funding, which was followed by $798k in Angel funding in 2009 led by Simon Murdoch and Belgium-based venture firm Big Bang Ventures. This was swiftly followed by $638k in 2010 and $1m in 2011. Shutl attracted a $2m investment earlier this year again led by UPS and with investment from Geopost.
Shutl will use the new funds to continue its global expansion. With the U.S. launch next year Shutl plans to rollout in 10 cities including Atlanta, Boston, Chicago, Houston, Los Angeles, Miami, Philadelphia, Washington, Montreal and Toronto.
Founder and Chief Executive of Shutl Tom Allason stated earlier this year, “we are ready for the U.S, a market that we estimate will be worth around $26b by 2016.”