EXCLUSIVE: Retail tech startup Exaactly raises £260,000 Seed
London-based startup Exaactly has raised a £260,000 Seed round for its mission to revolutionise item delivery.
The company, which was founded in October 2016, aims to reduce the number of ‘sorry we missed you’ cards that consumers receive, plus cut the amount of time and money couriers spend on failed deliveries. It plans to do this with its precise delivery address creation platform.
Customers choose their location and can add map pins, street views, photos and instructions to ensure couriers always find them. The user then names their Exaactly location and can share it with anyone.
A combination of angel investors and early stage VCs took part in the firm’s Seed round, which was raised via the SeedLegals platform.
Investors include the Dragons Den investor Shaf Rasul; Samos Investments; OION fund, which is managed by Innvotec; and a host of additional angels.
“As 21st-century consumers, we have become more and more demanding of retailers and we should expect to get our deliveries anywhere and anytime. The existing, antiquated address system just can’t keep up. Nobody wants to wait in to receive a parcel or to spend a Saturday queuing at the post office to pick a parcel up. We want convenience and assurance that our orders will arrive as expected,” said Bea Warner, CEO and co-founder of Exaactly.
Warner went on to say the new investment will be used to further develop the platform’s technology, deepen user testing with consumers and delivery drivers, as well as building a solution that can easily be integrated into existing software used by courier services.
Earlier this year, Exaactly was selected to take part in this year’s JLAB cohort, the retail innovation program run by John Lewis and Waitrose.
Colin Turner, senior strategy manager, supply chain at John Lewis, said: ”The online business is hugely important for John Lewis and getting that final delivery absolutely right for the customer every single time is critical for our reputation. We’re really excited to be working with Exaactly which has a tremendous vision for how that doorstep delivery can be successful every time.”