Subterranean eco delivery network Magway launches crowdfunder
Tech startup Magway this week launched a crowdfunding campaign to develop its underground pipe delivery technology.
With the surge in online shopping and delivery rates, Magway’s sustainable transport solution aims to address the issues of road congestion and air pollution.
The company has launched a new phase of funding, aiming to raise over £750,000 via Crowdcube, in order to build a network of underground pipes.
The network would become “the most game-changing goods and parcel transport system in the world”, by using subterranean transport to significantly reduce air pollution, accidents and congestion caused by the millions of vans and articulated lorries on our roads annually, as they deliver billions of parcels of goods to consumers purchased online.
Magway will be spending the funds on the commercial roll-out of its pipe network, as well as further IP registration and the expansion of its core team.
“The UK is already one of the most developed online retail markets in the world. As e-commerce sales increase alongside quicker internet deliveries, with new one-hour slots promised by retailers such as Amazon, delivery traffic on the UK’s already congested road network will also rise, further impacting air pollution,” said Magway managing director and co-founder Rupert Cruise.
“We need big ideas that will change the way we currently deliver goods and the face of transport for years to come. This funding round will take the development work that we’ve already completed to the next level of a commercial pilot and move the UK closer to providing a lower-carbon, less congested and safer transport infrastructure,” Cruise added.
Magway will initially provide short delivery routes to alleviate the stress on local freight traffic travelling in and out of major airport hubs such as London Heathrow.
After this, construction work is slated to begin in around 2023 on the first of its longer routes of up to 100 kms that will ultimately form a network of delivery pipes connecting the UK.