- Merian Chrysalis Investment Company said it had invested £10m in Manchester-based software-as-a-service company Sorted as part of a £15m funding round.

Other investors in the round included Praetura Ventures and NVM Private Equity.

Sorted had developed a delivery management platform that allowed retailers to manage their delivery and returns proposition.

'The delivery management sector is ripe for disruption and we believe Sorted has emerged as the only credible, global challenger to the current market leader,' portfolio manager Richard Watts said.

'We are excited to provide David and the team with the growth capital required to continue developing truly innovative technologies and expand internationally.'

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