London logistics startup achieves £6.5 million Series A funding
Weengs, which helps small and medium eCommerce businesses get products to customers, closed its fundraising round on £6.5 million.
The round was led by Oxford Capital, who contributed alongside Local Globe, Cherry Ventures, VentureFriends and more. Weengs' seed round raised £2.2 million, allowing it to set its sights on a more global market.
With Weengs, online retailers can take advantage of a special “ship-from-store” logistics solution, which handles collection, packing and delivery. It reduces costs and saves time for retailers, drawing on the capital of Weengs to make it cost-effective.
What's more, the startup has developed algorithms that help them choose the right courier for the products being shipped, and their destination. The service includes breakage and loss cover, shop integration, and carrier relationship management.
The funding raised this time will go towards a new warehouse, automation and specialised technology. “The packing operations today is mainly manual," said Weengs' CEO Pier Ronzi. "In the new automated warehouse we are implementing a process governed by our software and leveraging a packing machine that automatically performs the packing operations: the order item is fed to the machine and, at the end of a quick automated process, the order comes out packed in a very high standard and bespoke box, labelled and ready to be handed over to the carriers."
Weengs now works with more than 400 retailers and has fulfilled more than half a million orders.