Startups

Huboo Secures $36.6M Funding

 Huboo, a Technology-Driven Warehousing Startup, Secures $36.6 Million Funding Amid Ongoing E-commerce Expansion.

As the pandemic prompted consumers to embrace home deliveries and integrate digital routines, a remarkable uptick in e-commerce transactions emerged. This surge inevitably heightened the demand for storage and shipping services. However, the majority of e-commerce enterprises typically subcontract these operations. While Amazon’s “Fulfilled By Amazon” (FBA) service flourished within its ecosystem, alternatives became essential for those selling on platforms like eBay or Shopify, where FBA proves to be a costly choice.

E-commerce Fulfillment Companies

ShipBob has secured an impressive total of $330.5 million in funding to cater to this growing demand, while ShipMonk has raised $365 million. Flowspace follows with $46.5 million, and Germany’s everstox secured €23 million. Reflecting on the U.K. market, Huboo emerged as a strong competitor against FBA in 2021 when it raised $81 million in a Series B financing round led by the U.S.-based Mubadala Capital, as we previously covered.

The company has recently secured an additional £29 million ($36.6 million) from its current investors such as Ada Ventures and Maersk. Additionally, it has obtained additional debt funding from HSBC and Blackrock, the specifics of which have not been disclosed. This brings its total equity raised to £122 million ($154 million).

Huboo, a tech-driven warehouse startup

Martin Bysh, CEO, and co-founder, highlighted in a statement that despite a challenging macro outlook for eCommerce, the company successfully secured this round of funding. Established in 2017 by Bysh and CIO Paul Dodd, Huboo has expanded its presence to encompass ten warehouses throughout Europe, integrating with sales platforms such as TikTok, Amazon, eBay, and Shopify, among others. Headquartered in Bristol, the company operates not only in the U.K. but also in the Netherlands, France, Spain, and Germany. Among the early investors in Huboo are Stride, Ada Ventures, Hearst, Episode 1, and Maersk Growth.

The pursuit of cost-effective e-commerce fulfillment has intensified, especially given consumers’ widespread adaptation to on-demand services in the post-pandemic era. The integration of comprehensive logistics with robust full-stack software solutions seems to be the pivotal factor driving success for startups operating in this domain.

Read Also: Cynoia Company Secures $933,000 Funding

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