London-based urban logistics startup PORT has raised €14.5 million in a funding round led by the European Bank for Reconstruction and Development (EBRD) and Balnord. The financing combines equity and debt. PORT rents electric delivery vehicles to couriers through a network of urban hubs.
Funding and partnerships
The round brings PORT's total funding to €29 million, including earlier Pre-Seed and Seed financing. The company will use the investment to develop its AI Driver and autonomous delivery robots. It is also working with Royal Mail on a new robotic delivery system.
An established delivery network
Founded in 2020, PORT operates 24 hubs across London, Birmingham, and Manchester. The company reports more than 50,000 registered couriers and a fleet of 3,500 electric bikes. Its hubs provide vehicle storage, charging, and rental services near busy delivery areas.
Training robots on city streets
Some of PORT's bikes now carry NVIDIA-powered cameras and lidar to collect data during deliveries. The company uses this footage to train its AI Driver to navigate urban streets and delivery locations. Collected data uploads automatically when equipped bikes return to connected hubs.
PORT plans to open its first hub outside the UK in central Paris before the end of 2026. Its autonomous delivery vehicles remain in development. The company also plans to expand its research, development, and AI teams.