Vienna-based logistics and warehousing platform Storebox has raised €52 million in a new funding round. The company converts unused ground-level properties into self-serve storage units, available to domestic and commercial clients. The new funding is expected to fuel expansion in German cities with populations of 30,000 or more, with additional European markets slated for the future. To date, Storebox has raised approximately €57 million.
Starting off life in 2016 as store.me, a self-described, “Airbnb for storage space,” the Viennese company has evolved into something much bigger. With 120 locations across the DACH region, Storebox has seen the writing on the wall and is now banking on the q-commerce industry’s need for micro-logistics hubs.
The company says that Europe is lagging behind the US and China in urban self-storage, where more efficient and logistic solutions are available for last-mile deliveries. Again, according to Storebox, the US market offers approximately one square metre of rentable warehouse space per inhabitant, whereas in Europe the figure shrinks to one-hundredth the size.
“Due to the booming online trade, several industries are recording enormous growth figures in the home delivery sector. Last mile logistics will require new forms and structures to meet the growing market trends,” comments CEO Johannes Braith. “Storebox, with its decentralized and digitized location network, will play a key role in the development of the important future market of urban logistics.”
Given the synergies present, I can only wonder how long it will take before Storebox and robotically operated micro-warehousing solutions provider Noyes Technologies gema fürs bier tricken. Prost!
Storebox’s Series B raise includes new investments from Activum SG, Attila Balogh, Kineo Finance, n3K Holding, Senger-Weiss, Wicklow Capital, and Wille Finance. Existing investors APIC Investments and Romulus (Hansi Hansmann) also followed on.
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