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Ingka Investments Makes Minority Investment In Urb-it

Urb-it

Ingka Investments has made a minority investment in Urb-it, a Swedish sustainable logistics platform that provides last mile deliveries across Europe.

As a purpose-led business, Urb-it is committed to standards of social and environmental performance. Delivering the last mile exclusively on foot, bike or with its e-cargo-bike fleet, the Nasdaq Nordic listed company aims to reduce air pollution, noise pollution and congestion in urban areas, thus bring real, sustainable change.

“Urb-it is a rapidly growing business who want to create a positive impact on society and the environment with their zero-emission logistics services, so we are delighted to have made a minority investment. We are confident of their continued growth and see value in helping to support their expansion of zero-emission last mile deliveries in urban locations across Europe. It also aligns with our Ingka Group goal that all customer deliveries and services will be done using electric vehicles or other zero-emission solutions by 2025,” says Krister Mattsson, Managing Director of Ingka Investments. 

Urb-it’s emission-free delivery options are currently available in nine cities across two of Europe’s largest e-commerce markets, the UK and France. The company is planning to accelerate its growth journey by setting up new hyper-local hubs, scaling its fleet in both current and new cities and pursuing marketing opportunities to further support growth of the platform with the support of such investments.

Source : Ingka Investments

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23 November 2021

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