British company fights for delivery within 15 minutes
Zapp, a rapid shipping business located in the United Kingdom, has received $200 million in additional capital to establish a supply chain that delivers goods to consumers in minutes, allowing the businesses to develop in a strong and consolidated sector.
Formula 1 star Lewis Hamilton also became an investor
“Leading investors Lightspeed Venture Partners, 468 Capital, BroadLight Capital, and Atomico have all backed Zapp,” the business said in a release. Lees Hamilton, a Formula One driver, has also invested in the business.
Zapp, a firm founded in 2020, is one of the companies seeking to deliver everyday basics and supplies in 15 minutes or less, a service that has proven useful during the pandemic.
The company aims for “convenient metropolises” like London and Amsterdam, and the additional funding brings the firm’s revenue capital to $300 million since its creation.
“Given the current keeping inventory and late deliveries in supply chain operations, the firm’s goal is to develop its supply lines, which will help it become more efficient and reliable in managing inventory for consumers,” said Navid Hadzaad, the company’s CEO.
Turkish Getir, German Gorillas Technologies GmbH, and American Gopuff are among Zapp’s rivals.