LonÂdon based e‑commerce startÂup Shutl has just bagged an addiÂtionÂal $3.2 milÂlion in investÂment which it plans to use in aid of its forthÂcomÂing USA launch.
HavÂing expandÂed specÂtacÂuÂlarÂly through the UK over the last twelve months, Shutl’s extra monÂey came from sources old and new. ExistÂing investors include HumÂmingÂbird VenÂtures and the strateÂgic venÂture wing of UPS, while the rest came from new backÂers Notion CapÂiÂtal and e.ventures.
An ultra-fast Shutl
E‑commerce manÂagers and e‑commerce anaÂlysts alike will be interÂestÂed in Shutl’s unique angle, as the marÂket is undoubtÂedÂly getÂting more crowdÂed. WitÂness moves by big box stores like StaÂples and Home Depot to step into the e‑commerce space. Unlike felÂlow startÂup Beautylish, which is focusÂing on cusÂtomer engageÂment as part of a longer-term m‑commerce stratÂeÂgy, Shutl makes a bold but simÂple promise. It will delivÂer any prodÂuct paid for online either withÂin a few minÂutes or inside any hour-long winÂdow choÂsen by the customer.
The genius touch lies in its web platform’s links with local same-day couriÂers. So far, its record is a delivÂery takÂing just 15 minÂutes after payÂment processing.
SchedÂuled for the first quarÂter of 2013, the stateÂside launch will be cenÂtered iniÂtialÂly in San FranÂcisÂco and New York. But thereÂafter comes ‘phase two’ of the firm’s US roll out and it has WashÂingÂton, PhiladelÂphia, MiaÂmi, Los AngeÂles, HousÂton, ChicaÂgo, Boston and Atlanta in its sights. And as if that wasn’t enough, it’s also headÂing for the CanaÂdiÂan cities of ToronÂto and Montreal.
LookÂing for pay-dirt in the USA
Shutl’s founder and CEO Tom AllaÂson estiÂmates that the US marÂket alone will be worth approxÂiÂmateÂly $26 bilÂlion by 2016, but it’s fair to say that his enterÂprise will be facÂing stiff comÂpeÂtiÂtion. TaskRabÂbit and PostÂmates, starÂtups already up and runÂning on US soil, are also fightÂing hard to come out on top in the hyper-fast delivÂery market.
Every dolÂlar Shutl can raise will be of help in its effort to debut in the land of Uncle Sam, but it’s not doing at all badÂly. Just over a month ago in August, it sucÂcessÂfulÂly raised $2 milÂlion toward the AmerÂiÂcan launch. Over five milÂlion dolÂlars in less than two months sugÂgests that it’s talkÂing its transatÂlantic chalÂlenge very seriÂousÂly. Web conÂtent manÂagers lookÂing for a new opporÂtuÂniÂty might think about jumpÂing aboard when it arrives.