Instabox, a company that claims to transform last-mile deliveries for e-commerce, announced that it has raised a $190M (approximately €174.5M) growth equity round at a valuation of over $1B. The round was led by Verdane.
Several new and existing investors like Creades, EQT Ventures, Tham Special Investment AB, Nineyards, Tacito, and M2 Asset Management participated in the round. To date, the company has raised $327M in funding.
Fund utilisation
The Stockholm-based company will use the funding to continue investing in sustainable solutions, optimise its technology, and increase its European footprint.
Alexis Priftis, CEO and Co-Founder of Instabox, says, “I’m delighted with the trust that has been shown us by our existing and new investors. The global parcels market continues to grow every year, and Instabox’s lightning-quick, hassle-free, and completely fossil fuel-free shipping set us apart from traditional shipping companies. The new funding will help us build on that and further improve our service, making it even more sustainable and customer-focused.”
The announcement comes a few months after acquiring Norwegian logistics and e-commerce delivery solutions firm Porterbuddy.
Last year, Instabox made its debut in the Dutch market after acquiring Red je Pakketje, an Arnhem-based logistics company that provides same-day deliveries.
Instabox: What you need to know
Founded in 2015 by Alexis Priftis, Staffan Gabrielsson, and Johan Lundin, Instabox is a logistics company providing fossil-free e-commerce deliveries.
“With a focus on sustainability, customer flexibility, and our advanced tech stack, we have found the winning combination of best-in-class locker deliveries and home deliveries. We really look forward to continuing on our mission to revolutionise the world of shipping,” says Priftis.
Currently, the company operates 4,500 automated parcel lockers and home deliveries in the Nordics (Sweden, Norway, Denmark), the Netherlands and Germany. The company says it has consistently grown by more than 300 per cent per year since its inception.
With partners such as H&M and IKEA, Instabox claims to deliver e-commerce goods to millions of consumers, mainly through lockers, but also direct via emission-free bike deliveries. In total, Instabox delivers more than 3M parcels monthly across its markets.
Investors
Based out of Oslo, Verdane provides specialist growth capital to the fast-growing digital consumer, software, and sustainable society businesses. Verdane funds hold more than €3B in total commitments and have made over 120 investments in fast-growing businesses since 2003.
Christian Jebsen, Partner at Verdane and a new member of the Instabox board, says, “The Verdane team has followed Instabox for a long time and is pleased to partner with Instabox’s pioneering team on the journey to transform last-mile deliveries. As one of the most active digital consumer investors in Northwestern Europe, Verdane is well placed to support Instabox’s geographical expansion, drawing on our significant experience scaling sustainable consumption and digital consumer businesses across the Benelux, DACH, and Nordic regions. We look forward to working closely with the Instabox team to create a hassle- and fossil fuel-free future for the European consumer.”
