Berlin-based GetHenry, a startup that supplies last-mile delivery e-bikes to couriers and logistics companies, has raised an initial $17.4 million (€16.5 million) round to expand its business across the Europe. The startup currently operates in Germany, Austria, Italy and France, but plans to use its latest funding to move to Spain, the Netherlands and the UK in the next two quarters, according to a GetHenry spokesperson.
GetHenry, which supplies fleets of e-bikes to corporate customers like Gorillas, Flink and JustEatTakeaway.com, is hitting the market at a time when on-demand delivery from grocery, food and convenience stores is becoming increasingly popular. At the same time, more traditional logistics companies are becoming aware of the fact that an army of e-bikes is an efficient way to tackle emissions and meet corporate climate goals, particularly for the last mile.
A number of e-bike companies such as Zoomo, Ubco and Joco are emerging to address these trends coinciding with what is becoming a classic combination of fleets for larger companies and weekly or monthly subscriptions for couriers.
“We have seen over the past 12 months how important it has become to provide sustainable last-mile delivery solutions,” said Luis Orsini-Rosenberg, co-founder and CEO of GetHenry, in a statement. “As logistics companies struggle to meet the ever-increasing demand for faster and faster deliveries, GetHenry is here to provide a fleet of quality electric utility vehicles that can meet today’s climate. We enable delivery companies to get on with what they do best – delivery – by providing 24/7 maintenance and service, with up-to-date data on the status of their delivery vehicles at their fingertips to ensure peace of mind.”
Like some of its competitors, GetHenry’s subscriptions and services range from state-of-the-art vehicle production and e-bike financing to on-demand maintenance and fleet management software services. GetHenry’s subscription product, which averages around €100 a month ($105) depending on the country, is on par with competitors’ costs. Zoomo, for example, charges $20 to $35 a week for its US temp worker subscriptions.
GetHenry’s bikes, which are German-engineered and manufactured in partnership with a French e-bike maker, are built to handle the 80 kilometers a day delivery couriers tend to travel, accounting for any additional weight for parcels, according to the company.
“We decided to make our own bike because there was no e-bike on the market for grocery delivery at the time and we wanted to build the best bike for these customers,” a spokesperson told TechCrunch. “By making our own e-bike, we also have full control over costs and the supply chain.”
GetHenry also plans to use the new capital to diversify its product portfolio, with plans to develop and deploy cargo bikes and electric mopeds in the near future.
The funding round, a combination of €10 million of equity and €6.5 million of debt, was led by LocalGlobe, with participation from Visionaries Club, Founder Collective, EnBW New Ventures, GreenPoint Partners, SpeedUp Ventures and Third Sphere. Angel investors including Voi CEO Fredrik Hjelm, former COO Roger Hassan and Everphone CEO Jan Dzulko also participated in the round.