Inovia, Shopify back delivery startup Swyft in $22 million Series A round
Swyft, a Toronto-based digital logistics startup, has raised $22 million CAD ($17.5 million USD) in Series A funding in a round co-led by Inovia Capital and with participation from Shopify. The all-equity, primary capital Series A round follows less than a year after Swyft closed a $3 million CAD seed round. With a delivery marketplace currently operating in Toronto, Swyft is set for a major geographic expansion over the next 12 months. The company’s overall goal is to make the price of same-day delivery comparable to two-day (or next-day) delivery. “Swyft enables independent brands to offer affordable same-day delivery, which is critical in helping them grow their businesses and meet increasing customer expectations,” said Sugarman.