PORT Raises €14.5Mn to Develop AI Technology and Autonomous Delivery Robots

Port is building on its existing network of microhubs across the UK. The funding round was led by the European Bank for Reconstruction and Development (EBRD) and Balnord, with support from both existing and new investors.

Kamil Suda, Founder and CEO of PORT, says, “We believe robotised logistics does not start with the robot; it starts with the infrastructure, operations and data required to put robotics to work in the real world. We have spent years building that foundation. Now, with this investment, we are focused on the physical AI and robotics that will run on top of it.”

Ervin Luga, Head of Venture Capital Investments at EBRD, adds: “PORT’s impressive, proven commercial operation provides the ideal foundation for the next evolution of autonomous, robotic urban infrastructure. The environmental and economic advantages of driverless delivery are well established, but the missing real-world data layer has, so far, been a prohibitive limitation. PORT is actively building that data and already has the infrastructure in place to be able to make better use of it than anyone.”

Jack Clarkson, Managing Director of Out-of-Home for Royal Mail, says: “We are always looking for solutions and partners to help elevate our customer proposition, reduce our costs and reach our sustainability goals. The PORT team are providing us with access to frontier technology and expertise that can help us unlock the next evolution of urban logistics. We want to be at the forefront of this last-mile innovation, and look forward to continuing and deepening our partnership.”

Founded in 2020, PORT is building an urban delivery network that combines physical hubs, AI technology and robots. The company currently operates 24 microhubs across the UK and works with more than 50,000 couriers.

PORT offers e-bike subscriptions through its network of microhubs and charging stations. These hubs keep bikes stored, charged and ready for couriers to collect near busy delivery areas.

PORT is now developing the next stage of its delivery network. Using data collected from its e-bike fleet, the company is building its own AI Driver technology. This system is expected to support autonomous deliveries using PORT's delivery robots in the future.

Read Also- triPica Secures €12.4Mn Investment from TiLT Capital Partners to Expand Its Energy and Telecom Software Platform