As the delivery industry driven by autonomous robots expands, Tallinn-founded company Starship Technologies has raised $100 million in the last 30 days to expand its offerings in Europe and the U.S.
The recent $42 million funding round led by the Japanese-Nordic VC firm NordicNinja and the Estonian powerhouse Taavet+Sten will enable the company to further scale its service and meet increasing demand for its autonomous delivery service by launching in new cities in North America and Europe. The new investment, including the recently announced €50 million investment from the European Investment Bank (EIB), doubles the company’s funding and brings Starship’s total funding to $202 million. Other investors in Series B include TDK Ventures, and Goodyear.
The size of the autonomous delivery robot market is expected to reach $55 billion by 2026 with a CAGR of 20.4%.
“Everyone is talking about how to fix the issues with last-mile delivery. Starship’s autonomous driving technology for sidewalk delivery will lead to accumulating more and more data and experiences through much wider commercial operations,” said Shinichi Nikkuni, managing partner of NordicNinja VC.