IKEA Invests In Canada's Bolt Logistics

Ingka Investments has made a minority investment in Bolt Logistics, a Canadian technology-enabled logistics and last-mile delivery provider.

With its technology driven and sustainable approach to logistics and last-mile delivery services, Bolt Logistics (“Bolt”) has established itself as an industry leader, managing everything from small items to heavy-and-hard-to-handle fulfillment deliveries.

Krister Mattsson, Managing Director of Ingka Investments, says:
“Ingka Investments, part of the world’s largest home furnishing retailer operating IKEA stores in 32 markets, invests for generations to come. We are keen to support Bolt in growing its position as a next-generation logistics company, as technology-enabled logistics play a key role in how we can continue to adapt to changing shopping behaviours. Bolt’s customer-centric and sustainable approach and the integration of zero-emission trucks into its fleet will contribute to reaching our goal of 100 percent zero-emission home deliveries by 2025 and support IKEA in becoming more accessible, affordable, and sustainable for many people.”     

This latest investment round will enable Bolt to further penetrate operations in existing markets, while at the same time identifying new opportunities and growing its talent pipeline from 200 at the beginning of the year to 1000 employees by the end of 2021.

“Meeting customers where they need us most has been a relentless focus of the team since inception. While our business has undergone significant change in the past year, it’s clear that our focus on e-commerce fulfillment and last-mile logistics is exactly what the market needs,” said Mark Ang, CEO of Bolt Logistics. “The support of our existing and new investors is extremely validating, and it’s the continued vote of confidence from our merchants and their shoppers that drive our business forward. I am incredibly humbled by how much we’ve accomplished so far and look forward to the milestones ahead, including an expansion into the United States.”

Through investments, Ingka Group strengthens its long-term growth, secures its financial position, and supports the sustainability goals by making responsible investments in people and businesses. This investment is the latest in a series of investments made by Ingka Group that will strengthen its core retail business by investing in innovative companies in areas such as digitalisation, customer fulfillment and sustainability.

Source : Ingka Investments

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