Rethinking urban retail logistics: why we invested in RideLogix

We’re really excited to announce our investment in RideLogix’s £500k pre-seed round. Retailers globally are facing the challenge of ‘stock-outs’, which result in lost sales and frustrated customers. On the other hand, the ‘overstocking’ approach, often seen as the solution to stock-outs, leads to a massive waste of resources, to excess inventory, higher transportation costs, and a significant environmental footprint. In fact, overstocking is responsible for an estimated $163 billion in inventory waste globally every year. 

RideLogix addresses this issue by enabling retailers to analyse their inventory holdings and identify when their products will go out of stock. Their end-to-end solution allows them to then quickly rebalance stock from nearby stores or hubs using electric cargo bikes. This solution not only ensures that customers get the products they want but also dramatically reduces the carbon footprint of traditional logistics, with the added bonus of cutting down on waste from overproduction and unnecessary deliveries.

RideLogix is led by the dynamic husband-and-wife duo, Lili and Serhat Kyuchuk-Pakyuz. Since we first invested in them through our Spring 2024 Tech for Good programme, we’ve been hugely impressed by the team who have demonstrated remarkable execution in a very short space of time. With Serhat’s extensive experience in supply chain operations at Amazon and Lili’s background in investing and consulting across technology and consumer sectors, they have the right mix of technical know-how and strategic insight to disrupt the retail logistics space. Their ability to swiftly learn from feedback, iterate on their product, and close contracts with large retail brands have hugely impressed us. 

The market for RideLogix’s solution is vast. Despite the rapid increase of online commerce, in-store retail remains the dominant channel,  accounting for over 70% of retail sales in the UK in 2023. And urban retailers, in particular, are under pressure to not only optimise their supply chains but also increase the return on investment from their increasingly more expensive urban real estate. RideLogix has already demonstrated product-market fit with its first customer and are now ramping up their programme across London.

With plans to expand into new cities and sectors such as fashion, DIY, and groceries, the potential for RideLogix to scale is enormous. As urban areas continue to grow in size and congestion levels, and environmental concerns intensify, the demand for zero-emission, efficient logistics solutions like RideLogix’s will only increase.

We’re really excited to be part of their journey and look forward to working with the team as they scale their business and bring their vision to life.