What is Onto?
Onto is a company providing vehicle delivery and transportation services across the UK. Leveraging professional trade plate drivers, the company facilitates the reliable transport of cars, vans, and electric vehicles for both business-to-business clients, including car dealerships and fleet operators, and individual retail customers. Onto emphasizes a seamless customer experience, offering precise estimated times of arrival (ETAs) and real-time tracking. Their service portfolio includes flexible delivery options, such as same-day and next-day services where feasible, alongside live updates and dedicated customer support to manage any delivery-related inquiries.
How much funding has Onto raised?
Onto has raised a total of $365.6M across 4 funding rounds:
Series A
$7.6M
Series B
$175M
Series C
$60M
Debt
$123M
Series A (2019): $7.6M, investors not publicly disclosed
Series B (2021): $175M led by Pollen Street Capital and Alfvén & Didrikson
Series C (2022): $60M supported by Legal & General, Accelerated Digital Ventures, Alfvén & Didrikson, and Cerebrum Tech Limited
Debt (2023): $123M featuring CDPQ and Pollen Street Capital
Key Investors in Onto
CDPQ
CDPQ is a key reference and partner in the swine industry, focusing on research, innovation, and knowledge transfer to enhance the pork sector. They offer expertise in various areas including data analysis, livestock management, animal nutrition, genetics, health and biosecurity, and meat quality. Their multidisciplinary team supports the industry in achieving pork product innovation and differentiation in the marketplace. CDPQ aims to contribute to the sustainable growth of the pork production sector through advanced technologies and collaboration with partners.
Pollen Street Capital
Pollen Street Capital is an independent alternative investment management company specializing in private equity and credit strategies, focusing on financial and business services. They partner with entrepreneurial management teams to drive business transformation and investment performance in alignment with megatrends that shape the industry. With a commitment to responsible investing, they aim to build leading businesses through strong customer service and innovative delivery methods. The company's team, with broad expertise, actively manages portfolios to drive profit and revenue growth, making them a progressive partner in the financial services sector.
Legal & General
Legal & General Group plc is a prominent British financial services organisation and global investor. It specialises in managing assets, providing retirement and savings solutions, and offering insurance and investment products to a wide range of clients. The company focuses on long-term financial security and sustainable investment to support customers and society, guiding capital toward meaningful social impact while seeking strong returns.
What's next for Onto?
The recent major strategic investment in Onto, particularly the debt financing from CDPQ and backing from Pollen Street Capital, suggests a focus on scaling operations and potentially expanding its service infrastructure. This infusion of capital, following earlier Series A, B, and C rounds, positions Onto for significant expansion. The company is likely to enhance its technological capabilities for real-time tracking and logistics management, further solidifying its market presence. Strategic partnerships and potential acquisitions could also be on the horizon as Onto aims to capture a larger share of the vehicle logistics market.
See full Onto company page
