Munich startup everstox has raised €3 million to grow its Logistics-as-a-Service platform. German VCs supplied the round, with Capnamic Ventures, Global Founders Capital and existing investor Flash Ventures all participating. Rocket Internet invested during a pre-seed round back in January.
Co-founders Boris Bösch and Johannes Tress say they want to make logistics more sustainable, so everstox is meant “to drastically shorten transport routes of individual last-mile deliveries and returns through decentralized warehousing.” CTO and fellow co-founder Felix Haberland adds: “Our goal here in Munich is to build the leading tech company for transparency and automation in the warehousing and fulfillment market.”
Indeed, the startup believes it’s filling a gap in the market with its two-sided platform solution: merchants and logistics providers benefit from automated, optimised warehouse and logistics processes and from digital tools for day-to-day operations. On the other hand, the platform offers e-commerce, wholesalers and retailers access to a broad European network of qualified, independent logistics partners.
Founded last year, everstox says demand for service took off during the coronavirus lockdown measures ealier this year. German retailers such as EDEKA, REWE and Rossmann, as well as brands like YFood, vly or mybacs, have been using the platform to get products to customers.
The fresh funding will go to developing the product, and expanding both the team as well as the company’s partner network of independent warehouses.