Sendle Raises AU$19M in Latest Round of Funding

The funding will be used to support small businesses across Australia and the U.S.

Sydney-based logistics startup Sendle has raised AU$19 million (US$13.775 million)  in its latest round of funding, to manage the unprecedented global demand for ecommerce, expand the company’s shipping network, and support its accelerated growth, the company announced in a press release dated August 18.

The oversubscribed funding round welcomed new investors King River Capital, a venture capital firm based in Sydney and San Francisco, Alberts Impact Capital and Marinya Capital, as well as returning investors Federation, Rampersand, Full Circle Venture Capital and NRMA Insurance.

Sendle, launched in 2014, is Australia’s first carbon neutral delivery service and a certified B Corp, which focuses on providing sustainable shipping in the face of the spike in demand for ecommerce.  According to the Australia Post 2020 ecommerce report, released in April 2020, about 2.5 million Australian households bought something online per week, as opposed to a yearly average of 1.6 million in 2019. The company says that it has over half a million customers across Australia and the U.S., conveying the increasing demand for 100% carbon neutral parcel delivery. 

The newly raised fund will be used to increase the strength and reliability of Sendle’s network, and to ensure that small businesses can keep up with consumer demand in the upcoming months and ahead of Christmas. 

“Thanks to the backing of our investors, we will be able to invest even more in helping our small business customers compete during these critical times,” says Sendle CEO James Chin Moody. “Logistics is becoming an even more important part of the economy, and we stand ready to do our part.” 

Over the past six months, Sendle has been engaging in partner innovation to enhance and expand its services. On June 17, the company announced that it had partnered with Bonds Couriers to launch a solar-powered delivery fleet. Sendle also partnered with Shopify to power Shopify Shipping in Australia, and integrated with online marketplace Etsy on August 3. It had also announced a partnership with DHL eCommerce in September last year. 

Sendle has witnessed rapid growth in Australia, where it was first established. The company’s deliveries reached the largest single-day volumes in its history in Melbourne on August 3, 2020. As of December 7, 2019, Sendle was the highest-rated delivery service in Australia. After launching in the U.S. in November 2019, the company’s  U.S. volumes reached one-fifth of the Australian business, which was higher than the company’s projections. 

“Sendle is perfectly positioned for the future. It is a business that is meeting rapidly evolving consumer demands and needs, including in ecommerce, backed by sophisticated technology and in a way that is environmentally friendly,” says Zebediah Rice, Partner of King River Capital, the leading investor in this funding round. “It’s globally relevant and scalable and the growth opportunity is huge.”


Share on facebook
Share on twitter
Share on linkedin
Share on email


Top 5 Electric Car Companies of 2022

Top 5 Electric Car Companies of 2022

Business and political conversations in recent years have shown that you simply cannot talk about progress without mentioning sustainability. Startups and big corporations are having to upgrade their business models to factor in climate change and the environment. Shoppers have taken notice, too.

Asian Startups Set to Join the IPO Race in 2022

Asian Startups Set to Join the IPO Race in 2022

Despite the pandemic, 2021 had been a bumper year for initial public offerings (IPOs). According to the 2021 EY (Ernst & Young) Global IPO Trends Report, the global IPO market had a total of 2,388 IPO deals, raising US$453.3 billion in proceeds. Global IPO activity was up 64 percent in deal numbers and 67 percent in proceeds when compared to 2020.

How-To Tech Safe Internet Navigation Tips for Seniors

How-To Tech: Safe Internet Navigation Tips for Seniors

As you get older, it gets harder and harder to keep up with the advances in technology. Also, cybercriminals are exploiting the pandemic-induced shift to the digital realm to their benefit. The elderly lose US$30 billion a year to online scams, and as of 2020, there has been a 69% increase in online scam reports.

Why Are Jack Dorsey and Elon Musk against Web 3.0

Why Are Jack Dorsey and Elon Musk against Web 3.0?

“Sounds like BS” was Tesla CEO Elon Musk’s very eloquent review of Web 3.0. After all, few people know more about BS than Musk.
Web 3.0 has been touted as the internet of the future and a new generation of webs. It aspires to decentralize the internet using blockchain-based tokens. It will allow people to “own” their internet activities, thus doing away with the power of big techs, such as Amazon, Alphabet and the like.

Virtual Concerts—The Post-COVID Future of the Music Industry

Virtual Concerts—The Post-COVID Future of the Music Industry

Much like most other industries, the music industry also saw a hefty blow from the pandemic. Be it BTS, the Weeknd, Harry Styles or Bon Jovi, a lot of major artists have had to cancel their concerts throughout 2020. To make up for these canceled live interactions with fans, artists shifted to the Internet.

Ethics of Surveying Your Remote Employees

Ethics of Surveying Your Remote Employees

For employees and employers alike, the work-from-home scenario has not been easy. Sure, we have all found ways of staying productive and getting our jobs done. Yet, for employers supervising remote employees for the very first time, remote surveillance has become the only option.