Sweden’s Instabox has raised $190 million in a growth equity round. The automated parcel locker service will use the new capital to further invest in sustainable solutions, refine its tech stack, and press forward with European expansion plans. To date, Instabox has raised approximately $327 million.
Staying right on schedule of making an announcement about every four to six months, this time around it’s a $190 million venture round raise and a unicorn valuation from Stockholm’s Instabox.
In January, Instabox informed of its acquisition of Norwegian logistics and e-commerce delivery solutions firm Porterbuddy, while a Dutch market entry and $90 million Series B round took the tabloids last year.
If you’ll remember, an interesting part of the Porterbuddy purchase saw a provision whereby Porterbuddy’s majority shareholders, Verdane and Canica, were said to be reinvesting their entire proceeds from the sale and double down with a fresh injection of capital. In doing so, they would then become one of Instabox’s largest shareholders.
Take a wild guess who's leading this new growth equity round?
“The global parcels market continues to grow every year, and Instabox’s lightning-quick, hassle-free, and completely fossil fuel-free shipping set us apart from traditional shipping companies,” commented Instabox co-founder and CEO Alexis Priftis. “The new funding will help us build on that and further improve our service, making it even more sustainable and customer-focused.”
In addition to Verdane’s commitment to the $190 million round, existing investors Creades, EQT Ventures, Tham Special Investment AB, Nineyards, Tacito, and M2 Asset Management, all followed on. Additionally, the company reports a “number” of new, undisclosed, investors.
“The Verdane team has followed Instabox for a long time and is pleased to partner with Instabox’s pioneering team on the journey to transform last-mile deliveries. As one of the most active digital consumer investors in Northwestern Europe, Verdane is well placed to support Instabox’s geographical expansion, drawing on our significant experience scaling sustainable consumption and digital consumer businesses across the Benelux, DACH, and Nordic regions,” commented Verdane’s Christian Jebsen.