Plural, an Estonian-founded investment firm, invested in a $35 million Series A funding round for Relay Technologies, a London-based e-commerce logistics company, according to TechCrunch. The round also included participation from Project A and Prologis Ventures.
About Relay
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Founded in 2022 by Jonathan Jenssen (CEO) and Nicole Mazza (CCO), Relay develops an AI-powered platform that uses hyperlocal nodes to decentralize the e-commerce delivery model, transforming it from a cost center into a competitive advantage for retailers.
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By automating key workflows and pairing flexible fleets of on-demand couriers with a distributed hyperlocal network, Relay cuts operating costs for both itself and its merchants while also improving customer experience.
“At Relay, we’re using technology to build critical logistics infrastructure that brings down costs while improving delivery speed and reliability. We’ve already proven this model with some of the UK’s largest e-commerce retailers, and with support from our partners and investors, we’re ready to scale our network across the country and beyond,” said Jonathan Jenssen, Co-founder and CEO of Relay.
Investment details
Plural is an early-stage venture capital fund that supports ambitious founders using technology to make a global impact, led the investment. The fund was founded in June 2022 by Taavet Hinrikus, Ian Hogarth, Sten Tamkivi, and Khaled Helioui. In January 2024, Plural closed its second fund, raising €400 million in funds – just 18 months after the launch of their initial €250 million fund.
“Jonathan and Nicole are the perfect pair to do this, having lived and breathed the last-mile delivery revolution for almost a decade. Their asset-light model, optimized by AI, is already leading to delivery times that are a fraction of incumbents,” Taavet Hinrikus, partner at Plural, mentioned.
The round also included participation from Germany’s Project A and Prologis Ventures, the VC arm of global logistics real estate leader Prologis.
Relay aims to reduce delivery distances by over 95% compared to existing systems. It will use the capital to develop its AI and machine learning capabilities to achieve this goal.
