Storebox logistics and warehousing platform raises 52 million euros – Tech.eu
Vienna-based logistics and warehousing platform Store box raised 52 million euros in a new funding round. The company converts unused ground floor properties into self-storage units, available for domestic and business customers. The new funding is expected to fuel expansion into German cities of 30,000 or more, with additional European markets planned for the future. To date, Storebox has raised around 57 million euros.
Starting life in 2016 as store.me, a self-proclaimed “Airbnb for Storage”, the Viennese company has grown into something much bigger. With 120 locations in the DACH region, Storebox has seen the writing on the wall and is now capitalizing on the q-commerce industry’s need for micro-logistics hubs.
The company says Europe lags behind the United States and China in urban self-storage, where more efficient and logistical solutions are available for last mile deliveries. Again, according to Storebox, the US market offers about one square meter of rentable warehouse space per capita, while in Europe that figure is reduced to one hundredth.
“Due to the boom in e-commerce, several industries are recording huge growth figures in the home delivery sector. Last mile logistics will require new forms and structures to respond to growing market trends ”, comments the CEO Johannes braith. “Storebox, with its decentralized and digitized localization network, will play a key role in the development of the important future urban logistics market.
Given the synergies present, I can only wonder how long it will take before Storebox and the robotic micro-warehousing solutions provider Noyes Technologies gema fürs bier tricken. Prost!
Storebox’s Series B increase includes new investments of Activum SG, Attila Balogh, Kineo Finance, n3K Holding, Senger Weiss, Capital of Wicklow, and Wille Finance. Existing investors APIC Investments and Romulus (Hansi Hansmann) also followed.