Austria's Storebox boosts Series B round to €67.5M for European expansion

Storebox, an Austrian logistics scale-up, secures over €67 million in extended Series B funding, aiming to expand its store network across Europe and continue its strong growth trajectory.
Austria's Storebox boosts Series B round to €67.5M for European expansion

The Austrian storage and logistics scale-up Storebox has received more funding to add to its Series B round. Originally reporting a €52 million fundraise in July 2021, the firm has confirmed the extension brings the round to a total of €67.5 million. Those involved in the round include existing investors Senger-Weiss Family Offices, Wille Finance, Kineo Capital, Urban Pioneers, ActivumSG, Hansi Hansmann and Markus Ertler, as well as Raiffeisenbank International. 

According to the company, it's on a strong growth trajectory and says sales figures have increased 160 percent in the last twelve months. The fresh capital will allow it to continue its growth, as it expands its store network across Europe in tandem with increasing the number of locations in existing markets.

"We are extremely proud that we were able to secure capital despite the challenging market environment for startups and are sending a strong signal for our future growth," says Dr. Johannes Braith, CEO and co-founder of Storebox. "Compared to other markets, such as the USA, the density of self-storage locations in Europe is still many times lower with increasing urbanisation at the same time."

The Vienna-based company counts Ikea as a business partner, the Scandinavian chain selling ready-to-assemble furniture uses Storebox as its click & collect pick-up stations.  

"Advanced and efficient solutions in optimising the last mile are becoming increasingly important for the cities of the future. Storebox is focusing precisely on this, finding innovative solutions that disrupt the market," said investor Hansi Hansmann. 

Lead image: Dr. Johannes Braith, CEO and Co-Founder of Storebox at the announcement via Storebox. Photo: Ben Leitner.

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