Paris-based on demand logistics and order fulfillment company Cubyn has raised €35 million in a Series-C round. This now brings their total raise to €55 million.
The round was led by Eurazeo and Bpifrance Large Venture with new participation from First Bridge Ventures and Fuse Venture Partners. Existing investors DN Capital, 360 Capital, Bpifrance Smart Cities fund and BNP Development also followed on.
With the new funding, Cubyn is expected to double their headcount to 170 employees by year's end, as well as press beyond their French borders. Spain and Portugal will launch next month with Germany, Italy, and the UK also on the radar. Likewise, the firm is also reporting that they’ll be opening a 25,000 m² automated facility in the Paris area in the coming months.
The end-to-end e-commerce fulfillment game isn’t exactly straightforward. There’s one particular supplier we can all think of, but what if you’re not playing in Jeff’s sandbox? Cubyn is addressing this problem head on, in a rapidly growing, highly fragmented market. One estimated at €500 billion worldwide.
Cubyn’s proprietary technology seeks to streamline merchant logistics through everything from web apps to algorithm optimisation to warehouse robotics. This technology stack then enables Cubyn to operate at a fraction of the “standard” industry cost. And the proof is in the pudding; in their first year, 2020, they grew their gross merchandise values from €30 million to €250 million.
“15% of the gross merchandise value transacted in e-commerce globally goes to e-logistics. Still today, there is no scalable, efficient logistics solution aside from the ones offered by siloed marketplaces. Cubyn is disrupting the traditional e-commerce third party logistics market from the ground up, offering a better, faster and cross-border service at a 30% lower price,” says Cubyn co-founder and CEO Adrien Fernandez-Baca.