Ingka Investments makes minority investment in Fluid Truck
Ingka Investments, the investment arm of Ingka Group, owner and operator of 381 IKEA stores in 32 countries, have made a minority investment in Fluid Truck, an app-based rental solution, offering short-to-medium term vehicle rentals and outsourced fleet management solutions. Ingka Investments joins a US$63.0 million Series A investment round together with other investors.
Ingka Group has set a goal to become climate positive by 2030, and to achieve this CO2 emissions need to be cut in all stages of the value chain, including home deliveries. To support this, all customer deliveries and services will be done using electric vehicles or other zero-emission solutions by 2025. By investing in Fluid Truck, Ingka Investments supports this ambition, helping them to reach their ambition of fleet electrification.
Fluid Truck has an increasingly electrified delivery fleet across the US so this is another step in enabling IKEA Retail to provide last mile delivery services to customers, continue to improve on its customer promise, while also reducing its environmental footprint.
The evolving online shopping habits call for scalable and sustainable delivery models. Today, IKEA Retail US is working with Fluid Truck to enable a rental programme that facilitates their transport partners to rent electric trucks for last mile deliveries, initially covering New York and Los Angeles.
The investment is the latest in a series of investments made by Ingka Group that will strengthen its core retail business by investing in innovative companies in areas such as digitalisation, customer fulfilment and sustainability.