Relay funding news – London-based Relay Raises $35Million in Series A Round Funding

The company has raised $35M in Series A funding, bringing its total funding to $50M. The round was led by Plural, with support from previous investors Project A and Prologis Ventures.

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This new funding will help it expand its network across the UK and enhance its engineering and operations teams, using AI and machine learning to improve delivery services.

Jonathan Jenssen, co-founder and CEO of Relay, said: “At Relay, we’re using technology to build critical logistics infrastructure that reduces 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.”

Taavet Hinrikus, Partner at Plural, said: “There is a global opportunity to reinvent parcel delivery for the digital age. 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, optimised by AI, is already leading to delivery times that are a fraction of incumbents.”

Philipp Werner, Partner at Project A, said: “Since leading Relay’s Seed round, we’ve consistently been impressed by the team’s execution capabilities. This new funding round is a testament to their achievements, enabling them to further invest in their technology and expand their impressive portfolio of top-tier clients.”

About Relay

Relay was founded in 2022 by Jonathan Jenssen (CEO) and Nicole Mazza (CCO), who both previously worked at the last-mile delivery company Stuart. Their AI-powered platform uses a decentralized delivery model with local hubs instead of the traditional "hub and spoke" system. This helps Relay cut operating costs by reducing shipping distances, combining deliveries and automating workflows.