Cornerstone Partners invests in Hutch Logistics
We are pleased to announce that Cornerstone Partners has led a pre-seed round alongside Andy Davis into East London based business, Hutch Logistics.
Founded in April 2020 by seasoned logistics operator Sait Cham, Hutch is a logistics and fulfilment business that gives independent eCommerce brands the ability to outsource warehousing, packaging and fulfilment of their inventory at scale.
Unlike other 3rd party logistics and fulfilment providers, Hutch wants to place technology and micro warehousing at the core of its value proposition.
With Cornerstone Partners and Andy Davis’ investment, Hutch plans to accelerate the development of its tech platform, increase its marketing budget, and scale operations.
We are delighted to be partnering with Sait Cham and the rest of the team and look forward to helping the business serve more customers in the rapidly growing eCommerce sector.
Welcome to the Cornerstone Family Hutch!
Rodney Appiah, Chairman of Cornerstone Partners commented:
“Cornerstone are delighted to be working with Sait and the rest of the team to support Hutch’s growth plans. Their innovative tech platform and micro warehousing concept is compelling and represents a unique opportunity to serve the rapidly developing independent eCommerce sector. We look forward to supporting the business over the coming years and working with Andy and the other angel investors who participated in this round.”
Sait Cham, CEO & Founder of Hutch Logistics Ltd, added:
“It’s a pleasure to be working with Cornerstone Partners, from our initial conversations with the team it was clear from the outset that they understood our vision for Hutch and the more we engaged with them it became increasingly apparent that they could add value and assist in growing the business in a myriad of ways.
The funding and partnership will allow us to even better serve our customers and enable us to meet the explosion in demand from e-commerce brands wanting to scale their logistics operation in a more modern and cost-effective manner. In addition to Cornerstone Partners, we are delighted to have Andy Davis (Atomico Angel) participate in this round. We strongly believe they will both play an important role in helping us to achieve our mission of delivering tech enabled fulfilment services for ambitious direct to consumer brands.”
If you are a founder who is seeking investment or interested in learning more about Cornerstone Partners, please visit our website at www.cornerstonepartners.co.uk.
For more information, please contact:
Chenelle Ansah, Head of Cornerstone Partners Syndicate, chenelle@cornerstonepartners.co.uk
About Cornerstone Partners (“Cornerstone”)
Cornerstone Partners is the leading angel network for black and diverse founding teams in the UK. We focus our attention on this group because we believe their entrepreneurial talent is often overlooked, underestimated, and underrepresented in the traditional funding community.
We are a generalist angel syndicate providing investment of between £25k and £100k into post revenue businesses across the UK. We add value by leveraging the background and skillset of our fellow partners and external talent network. In addition to providing capital, Cornerstone runs an internship programme to widen access to angel investing, an annual scale up programme for post revenue businesses and commissions research to raise awareness of the benefits of diversity led investing.
Since inception, Cornerstone has supported 14 UK businesses with funding and is on track to invest £1m by the end of 2020. Examples of our recent investments include Tectonic and Coordinate Sport.
