Subjects: NEW PRODUCTS/SERVICES, PARTNERSHIPS, JOINT VENTURES, MISCELLANEOUS, MISCELLANEOUS
Trexity raises $5 million in seed funding to advance same-day on demand local delivery platform
Ottawa, ON, May 25, 2022 (GLOBE NEWSWIRE) -- OTTAWA -- Trexity, a same-day, on-demand local delivery technology company, founded by former Shopify executive Alok Ahuja (and partners), announced today that it has raised $5 million in a seed round led by TELUS Ventures, with participation from New York-based Studio VC, Winnipeg-based Shindico, Jay Myers (CEO of Bold Commerce), and a number of other notable Canadian angel investors. Funding will be used to expand into new markets across Canada and North America; and increase engagement in currently serviced markets of Ottawa, Toronto, Calgary, and Winnipeg.
"A business is measured by those that surround and support it, and we feel extremely privileged to be in such rarefied company," reflects Alok Ahuja, CEO of Trexity. "I'm incredibly proud to see how quickly we've taken this idea and molded it into a world-class platform that supports an ecosystem of thousands of merchants and couriers daily."
Several strategic hires will also be made to bolster Trexity's marketing, sales, and engineering teams. The company also announced today that Brian Martin, Investment Director and Partner, TELUS Ventures, will be joining Trexity's Board of Directors.
"We're impressed with the opportunity Trexity has unlocked for local business delivery, allowing owners to not only evolve and meet the demands of a rapidly changing retail industry, but also realize new commercial avenues," said Mario Mele, Vice-president Corporate Strategy, TELUS Ventures. "Given their extensive experience in this space, we're confident in Trexity's founding team and their deep understanding of the needs of today's merchants."
Trexity is making on-demand local home delivery a reality for all small and medium-sized merchants. Their independent fleet of couriers earn between $25 and $30 per hour while delivering, making it the most generous delivery platform in Canada.
About Trexity
Founded in 2019 by ex-Shopify exec Alok Ahuja and LaunchFort co-founders Mathieu Bouchard and Darren Schnare, Trexity is a same-day on-demand local delivery technology platform for online and bricks & mortar businesses. The Trexity platform enables businesses of all sizes to deliver physical products in near real-time to their customers by harnessing the collective of an independent courier community. The Trexity delivery platform supports single delivery and multi-stop requirements allowing customers to scale their businesses faster?while keeping costs down with no extra fees or subscription requirements.
For more information please visit: trexity.com
About TELUS Ventures
As the strategic investment arm of TELUS Corporation (TSX: T, NYSE: TU), TELUS Ventures is one of Canada's most active corporate venture capital funds. TELUS Ventures invests globally in companies from Seed to Pre-IPO with a focus on innovative technologies such as AgTech, HealthTech, Connected Consumer, IoT, AI, and Security to actively drive new solutions across the TELUS ecosystem. Led by a team of experienced operators, investors, and executives, the TELUS Ventures team is passionate about creating positive social impact through financial tools and has invested in more than 100 companies since inception.
For more information please visit: ventures.telus.com
About Studio VC
Studio VC, a team of scrappy entrepreneurs and investors, actively partners with extraordinary leaders to challenge the status quo and relentlessly focus on execution. We influence outcomes of venture companies by investing capital and taking an active role in strategic planning, product feedback and business development. Our team has collectively analyzed thousands of early stage ventures, acted as change agents within large corporations, and built and exited companies. We put this experience to work for our entrepreneurs to build game-changing businesses.
For more information please visit: studio.vc
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Media contacts:
Rod Zylstra, VP Marketing, [email protected], 613-277-3065
Christina Marinelli, Marketing Lead, [email protected]
Tatianna Goldsney, TELUS Public Relations, [email protected], 587-897-7430
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