Estonian fund Plural invests $35M in logistics startup Relay

Venture capital fund Plural, founded by Estonian entrepreneurs Sten Tamkivi and Taavet Hinrikus, has led a $35M round in e-commerce logistics startup Relay. 

Launched in London in 2022 by Nicole Mazza and Jonathan Jenssen, Relay Technologies has developed a decentralized AI delivery platform that significantly reduces distances and delivery times compared to traditional methods. By using the Relay platform, companies can optimize every step of the process and reduce the cost of operating expenses. Relay's customers already include large companies such as Vinted and TikTok.

Relay is now active in major UK cities such as London and Manchester and plans to use the investment to expand nationwide over the next two years. According to the company's founders, their goal is to create a critical logistics infrastructure that not only reduces costs, but also improves the speed and reliability of delivery.

Founded in 2022 by Sten Tamkivi, Taavet Hinrikus, Ian Hogarth, and Khaled Helioui, Plural focuses on leading early-stage rounds between €1M and €10M. In 2023, a new partner, AI-driven biotech HelixNano founder, and VC investor Carina Namih joined Plural. The fund has its own rule that requires all of Plural's partners to make personal co-investments in the deals they lead.