![]() ![]() "Based on our experience within parcel logistics and last-mile delivery, we view the Fetch model as the only sustainable option for multifamily and see it quickly becoming the gold standard for apartment operators. "Fetch is the last-mile delivery solution that the apartment industry has always needed," said Andrew Townsend, a managing member at Ocelot Capital and owner of Austin, Texas-based parcel carrier Lone Star Overnight, in the release. ![]() Fetch announced that previous Coupang board member Matt Christensen will be joining its board of directors as an observer. Rose Park Advisors, known for its deep investment in South Korean e-commerce company Coupang, also participated in the round. Greenpoint Partners, Alpaca VC, Iron Gate Capital, Signal Peak Ventures, Venn Ventures, Pando Ventures and Seamless also participated in the round, as did Signature Bank, which provided a $10 million venture debt facility. What many do not consider is the staff and infrastructure needed to facilitate these deliveries at the 21.9 million apartment units across the United States, with close to 50% of those apartments being occupied by two or more consumers, according to the National Multifamily Housing Council.ĭuring the pandemic, these residential facilities saw occupants' monthly deliveries increase from an average of six packages a month to 10, with an increase to 14 during the holiday season, leading to a need for larger package rooms and more on-site staff to accept these deliveries.Īs e-commerce continues to boom, Fetch Package has created a last-mile logistics solution to optimize multifamily housing deliveries, eliminating the need for expanded package rooms or lockers and increased staff to handle incoming traffic.Īfter creating efficiencies for more than 700 communities and on its way to deliver 8 million packages by the end of 2021, Fetch announced Wednesday that it has closed on a $50 million Series C equity round led by Ocelot Capital. When it comes to optimizing last-mile delivery, attention is mostly focused on maximizing delivery driver hours and end-consumer satisfaction. ![]()
0 Comments
Leave a Reply. |