The logistics startup PORT has secured €14.5 million in a funding round led by EBRD and Balnord. This investment brings the company's total funding to €29 million, following previous pre-Seed and Seed rounds. The capital will support the development of AI-powered autonomous delivery robots.
Founded in 2020, PORT operates a network of 24 microhubs across London, Manchester, and Birmingham, utilizing 52,000 square feet of urban space. The company manages a fleet of 3,500 e-bikes and supports over 50,000 couriers. To date, its cargo bikes have delivered more than 300,000 parcels.
The company is developing an AI Driver system using data collected from its e-bike fleet. Selected bikes are equipped with NVIDIA-powered cameras and lidar to capture real-world delivery data. This information is processed at hubs to train robots for urban navigation in the same environments where the data was gathered.
PORT currently provides 92% coverage within a one-mile radius of London's Congestion Charge Zone and 60% coverage within two miles across inner London. The company plans to expand internationally by opening a micro-hub in Paris before the end of 2026. Additionally, it is partnering with Royal Mail to test a new robotic delivery system.
