British parcel delivery startup Hived has secured $42 million in Series B funding to expand its all-electric logistics network beyond London, as it looks to scale operations across southern UK cities and eventually reach 80% of the country within two years.
The latest investment round was led by NordicNinja and included participation from existing backers Planet A, Wex Venture Capital, Marunouchi Innovation Partners, Elemental Impact, Yamato Holdings, Future Back Ventures by Bain & Co, and Rocketship VC. The funding follows previous rounds in 2021 and 2023 that helped the company establish its zero-emission delivery model across Greater London, where it has completed more than 6.5 million parcel deliveries to date.
Hived, founded by Murvah Iqbal, a former professional footballer, claims to be the only parcel delivery network in the UK to operate an electric vehicle (EV) fleet from end to end. The company is now preparing to grow its fleet in southern regions and is planning to install megawatt charging infrastructure in London, the Midlands, and Manchester to support its recently ordered eActros 600 long-haul trucks.
“We aim to cover 80% of the UK within the next two years. That’s what we’re on track for,” said Iqbal.
Central to Hived’s operations is its proprietary logistics software platform, HIVEDmind, which uses artificial intelligence to coordinate deliveries by integrating retailers, drivers, customers, and fleet managers into a single system. The platform supports functions such as route optimization and EV refuelling logistics, and the company is exploring opportunities to expand or license the technology beyond the UK market.
As the UK accelerates its shift toward cleaner logistics, Hived’s expansion could position it as a key player in sustainable last-mile delivery. The new funding is expected to be used for both operational scaling and technological development, as the company seeks to offer a zero-emission alternative to traditional courier networks across the country.