RideLogix has raised £500,000 in a pre-seed round to enhance retail logistics through innovative inventory management and sustainable electric logistics solutions.

Target Information

We are thrilled to announce our investment in RideLogix, which has successfully raised £500,000 in its pre-seed funding round. RideLogix aims to tackle the prevalent issue of 'stock-outs' faced by retailers globally, a situation that leads to lost sales and dissatisfied customers. The conventional countermeasure of 'overstocking,' while seemingly effective, often results in a great deal of resource wastage, including excess inventory, increased transportation costs, and a considerable environmental impact, contributing to an estimated $163 billion in global inventory waste annually.

RideLogix provides an innovative solution by enabling retailers to analyze their inventory and accurately forecast when products are likely to sell out. Their comprehensive approach allows for efficient stock rebalancing from nearby stores or hubs utilizing electric cargo bikes. This not only guarantees that customers receive the products they desire but also significantly lowers the carbon footprint associated with traditional logistics methods while also mitigating waste from overproduction and unnecessary deliveries.

Industry Overview

The retail industry, particularly in the UK, is experiencing significant transformation alongside the rise of online commerce. Despite the digital shift, brick-and-mortar retail continues to dominate, accounting for over 70% of total retail sales in 2023. Urban retaile