The Yorkshire-based team behind the tech used by high-profile FMCG companies to boost the efficiency of their UK logistics hubs has secured funding from early-stage venture capital firm Haatch and angel investors, in a round that values the business at £2.5 million.
YardOps, based in Hull, has secured a contract with a leading supermarket group, which has signed up for its yard operations platform, as well as supplying its tech to one of the UK’s largest food and drink companies, with the software used across four logistics hubs.
Early-stage venture capital fund Haatch – via its SEIS Fund and British Business Bank-backed fund – along with York Angels, the angel investment platform, are providing the funding to YardOps, in a round that values the company at £2.5 million. The capital will be used to expand the customer base across the UK and Europe.
The company is led by co-founders Jim Wardlaw, Matt Gibson, John Polling and Matt Weldon. They developed their tech to help FMCG firms make logistics hubs more efficient. An estimated 70% of UK yards still run on spreadsheets, radios and patchwork tools.
YardOps co-founder Jim Wardlaw said: “Despite a world-leading FMCG industry, so many UK companies are still using manual processes for their yard logistics. We recognised the vast upside opportunity in terms of efficiency and speed of creating bespoke solutions for these operations. With the majority of operators relying on traditional processes, there’s a very significant addressable market.
“The benefits our customers have drawn from using our team’s software have served as proof of concept. We’re proud that Haatch and York Angels recognise the potential in YardOps and their funding provides us with the platform to help other FMCG firms benefit from our tech.”
Most yard operations software is designed for the US market, where sites are generally larger. However, YardOps’ tech is made specifically for the UK and EU markets. The platform features modules that integrate and optimise yard activities – including booking, gatehouse, shunter coordination, dock management, driver communication and trailer maintenance – delivering more efficient FMCG logistics operations.
YardOps offers customers a reduction in vehicle pick-up turnaround times, meaning fewer leased vehicles are needed on sites; the opportunity for enhanced health and safety, with more comprehensive operational tracking; and the ability to use live traffic data to better manage yard arrivals and departures. Alongside FMCG, YardOps is also designed for operators in the manufacturing and logistics industries.
The funding from Haatch and York Angels will be invested in further product development, sales and marketing, and strengthening its senior team. YardOps recently appointed Martin Dougherty, who previously held senior roles at Wincanton and DHL, as commercial director.
Marwa Ebrahim, associate (pre-seed) at Haatch, said: “We’ve been hugely impressed with the YardOps team and what they’re bringing to market. This is a compelling solution to the inefficiencies present in logistics operations across the UK and there’s a large addressable market to target with the software. With the help of our funding and guidance, we’re confident YardOps can scale its product and build a significant customer base here and across Europe.”
As part of YardOps’ funding agreement with Haatch and York Angels, experienced adviser and investor Steve Secker is joining the board as non-executive chair.
