Bristol-based e-commerce fulfillment platform Huboo has raised £60 million in a Series B round. This healthy dose of dosh adds on to the £14 million the startup brought home last year in their Series A round. This newest round is expected to help the company push deeper into continental Europe.
Huboo was founded in 2017 and like every other player in the e-commerce world, saw things explode over the course of the pandemic. Growing from one warehouse in Bristol to four fulfillment centres across the UK, the startup recently opened a site in the Netherlands and will use this new funding to roll out operations into additional continental European markets over the next 12 months.
The firm has acquired over 1,000 customers to date, helping both small(er) and larger e-commerce brands with a number of issues including logistics, warehousing, inventory management, and shipping.
Leveraging an API approach, Huboo integrates with Amazon, eBay, Shopify, and a wide range of other marketplaces and gives clients a single dashboard to manage their inventory and view and track orders in real-time.
Not to be left out of the micro-warehousing game, Huboo operates a network of “micro-hubs”, spaces often just a few hundred square feet each, thus enabling teams to pick and pack items with the utmost of speed and efficiency.
Huboo’s Series B round was led by Mubadala Capital and joined by existing investors including Stride, Ada Ventures, Hearst Ventures, Episode 1, and Maersk Growth, and takes the company’s total capital raised to nearly £80 million since April 2019.
“This raise enables us to roll out our proposition on a wider international scale, as well as expand our service offering, continue our software development and further invest in our growing team. By taking care of the complexity of fulfillment, our goal is to enable seamless, borderless trade for e-commerce businesses of all sizes,” commented co-founder and CEO Martin Bysh.