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Corporate Venture

Investments

34

Portfolio Exits

3

Funds

1

About Prologis Ventures

Prologis Ventures is the venture capital arm of Prologis. a global leader in logistics real estate with a focus on high-barrier, high-growth market.

Headquarters Location

San Francisco, California,

United States

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Latest Prologis Ventures News

London-based Relay bags €9.2 million seed to overhaul the full-stack delivery network across the UK | EU-Startups

Nov 23, 2023

| EU-Startups Views: 0 Relay , a tech-enabled delivery network for e-commerce leaders and their end-customers, announces today that it has raised a €9.2 million seed financing round, led by Project A Ventures and Prologis Ventures. The company provides an end-to-end parcel delivery service – including the first, middle and last miles – from e-commerce retailers’ warehouses to consumers’ doorsteps. Founded in 2022, Relay’s disruptive service is built on a network of asset-free hyper-local partners, made up of urban pitstops and couriers. Thanks to this model, Relay is able to significantly reduce traditional logistics overheads, such as suburban area depots and sorting centres, that incumbents still rely on, making parcel deliveries quicker, more efficient and more sustainable. Backed by Project A, a leading early-stage tech VC in Europe, and Prologis Ventures, Prologis’ corporate venture capital group, Relay, in its first year, has already partnered with e-commerce leaders, such as JD Group, THG, which includes brands like Cult Beauty, MyProtein, Lookfantastic and Glossybox, and other enterprise retailers. By the end of the year, the business will be annualising millions of deliveries per year, just 15 months post-launch. Relay’s service is live in London and plans to expand across the UK over the next 12 months. The company is already working with a number of the UK’s top 10 enterprise e-commerce retailers, with more due to go live in January 2024. “In Asia, delivery companies were built specifically for e-commerce – in Europe and the US, it was the exact opposite, with delivery companies built for a pre-internet world,” said Jonathan Jenssen, co-founder and CEO of Relay. “Relay is bridging the gap between rapidly evolving e-commerce and old-school delivery. Not only are we enabling better delivery in terms of speed and cost for retailers and end-customers, but we are also doubling down on making sure our ecosystem of delivery drivers and the planet benefit.” For retailers using Relay, deliveries are faster, cheaper, more reliable and reduce carbon emissions by up to 50%. The company’s routing technology matches couriers to routes in real time and is able to combine deliveries and returns in one route. Additionally, end-customers can expect guaranteed next-day delivery and real-time tracking – with over 80% of end-customers getting a service upgrade, from the standard 2-5 day delivery to a next-day service. Local couriers benefit from a more flexible work environment and increased earning potential. Moreover, in accordance with the worker model, they are entitled to sick and holiday pay, as well as other key benefits. Philipp Werner, Partner at Project A, added: “The parcel delivery landscape remains rooted in the pre-digital era. It’s time for a delivery solution built for the e-commerce age. We believe this can only be achieved by addressing the entire value chain, rather than just innovating the ‘last mile’. Relay’s lean operational model, coupled with the team’s exceptional industry knowledge and technology-centric approach, promises to radically disrupt the status quo in parcel delivery.”

Prologis Ventures Investments

34 Investments

Prologis Ventures has made 34 investments. Their latest investment was in Relay as part of their Seed VC on November 22, 2023.

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Prologis Ventures Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

11/22/2023

Seed VC

Relay

$10M

Yes

1

9/12/2023

Series A

SITE Technologies

$10M

Yes

2

7/20/2023

Seed VC

Terminal Industries

$17M

Yes

3

3/15/2023

Series A

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$99M

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10

1/9/2023

Series A

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10

Date

11/22/2023

9/12/2023

7/20/2023

3/15/2023

1/9/2023

Round

Seed VC

Series A

Seed VC

Series A

Series A

Company

Relay

SITE Technologies

Terminal Industries

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Amount

$10M

$10M

$17M

$99M

New?

Yes

Yes

Yes

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Co-Investors

Sources

1

2

3

10

10

Prologis Ventures Portfolio Exits

3 Portfolio Exits

Prologis Ventures has 3 portfolio exits. Their latest portfolio exit was GenapSys on September 08, 2022.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

9/8/2022

Asset Sale

$99M

2

9/1/2022

Acquired

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$99M

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10

5/27/2021

Acquired

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$99M

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10

Date

9/8/2022

9/1/2022

5/27/2021

Exit

Asset Sale

Acquired

Acquired

Companies

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Valuation

$99M

$99M

$99M

Acquirer

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Sources

2

10

10

Prologis Ventures Fund History

1 Fund History

Prologis Ventures has 1 fund, including Prologis China Core Logistics Fund.

Closing Date

Fund

Fund Type

Status

Amount

Sources

12/4/2019

Prologis China Core Logistics Fund

$1,700M

1

Closing Date

12/4/2019

Fund

Prologis China Core Logistics Fund

Fund Type

Status

Amount

$1,700M

Sources

1

Prologis Ventures Team

1 Team Member

Prologis Ventures has 1 team member, including current Founder, Managing Director, William O'Donnell.

Name

Work History

Title

Status

William O'Donnell

Founder, Managing Director

Current

Name

William O'Donnell

Work History

Title

Founder, Managing Director

Status

Current

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