PORT raises €14.5M
Urban logistics company PORT has raised €14.5 million in a funding round led by the European Bank for Reconstruction and Development (EBRD) and Balnord, with participation from existing and new investors. The financing combines equity and debt and brings the company’s total funding to €29 million.
Founded in 2020 and led by Kamil Suda (CEO), PORT is developing an autonomous urban logistics system that combines physical infrastructure, AI and robotics. The company operates a network of microhubs and charging stations across the UK, providing e-bike subscriptions that allow delivery couriers to access electric vehicles without owning or maintaining them.
PORT’s platform serves more than 50,000 couriers and operates a fleet of approximately 3,500 e-bikes. Its infrastructure includes 24 microhubs across London, Manchester and Birmingham, occupying around 52,000 square feet of urban space. These locations allow delivery vehicles to be stored, charged and deployed close to areas with high delivery demand.
The company is developing its proprietary AI Driver and autonomous delivery vehicles to automate last-mile logistics. The new funding will support further development of AI Driver and autonomous delivery vehicles, alongside the expansion of its autonomous logistics capabilities and hiring across its research and development and AI teams.
“We believe robotised logistics does not start with the robot; it starts with the infrastructure, operations and data required to put robotics to work in the real world. We have spent years building that foundation. Now, with this investment, we are focused on the physical AI and robotics that will run on top of it,” said Kamil Suda, founder and CEO of PORT.
