Haynes Boone has represented NordicNinja, the largest Japanese VC in Europe, in its capacity as lead investor in a $42 million Series B fundraising round for HIVED, an AI-powered parcel delivery startup reinventing logistics for the e-commerce era.
The Haynes Boone Investment Management team representing NordicNinja was led by London Partner Andrew Pannell with assistance from Associate Mina-Marie Doherty and Trainee Solicitor Kirsty Harshaw.
NordicNinja led the funding round worth $42 million in HIVED, which was supplemented by Marunouchi Innovation Partners, Elemental Impact, Yamato Transport Co., Ltd., Future Back Ventures by Bain & Company, Rocketship.vc, WEX VC and other existing investors, including Planet A Ventures.
HIVED is purpose-built to serve e-commerce and the UK’s highest-rated parcel delivery firm delivering for brands like John Lewis, Uniqlo, Zara and Nespresso, while all 100 percent electric.
HIVED utilises its proprietary AI-based platform, replacing postcodes with dynamic delivery clusters, offering real-time tracking, fraud detection, EV routing and more in a single system.
“Once more, it was a pleasure to advise our long-term client NordicNinja on this significant investment in such a promising startup,” Pannell said. “We very much look forward to continuing to partner with and support the great team at NordicNinja, and we look forward to seeing HIVED as it continues to grow and scale.”
This funding follows Haynes Boone’s initial representation of NordicNinja in the establishment of its EU Article 8 Luxembourg fund and subsequent representations in a number of NordicNinja’s deals across the UK.
“Thank you very much to Andrew, Mina and the wider team at Haynes Boone for their support on this investment,” said NordicNinja Managing Partner Tomosaku Sohara. “As ever, we appreciate their counsel as our trusted advisers, and we are excited to continue being part of HIVED’s journey following this milestone funding round.”
The Investment Management Practice Group provides assistance with the formation and on-going operation of investment funds engaging in a broad spectrum of investment activities, from general investment in listed stocks to targeted acquisitions in a wide variety of industries, including in technology, digital assets, energy, real property, venture, businesses and investments. The team represents both domestic and offshore investment vehicles and serves as lead outside counsel to numerous investment funds who, combined, have tens of billions of dollars in assets under management. The London team has unparalleled experience acting as cross-border counsel to U.K. and European fund managers who want to access capital across the globe.
