Just 9 months since a €6.6 million seed round, Berlin-based logistics startup Hive has raised €29 million in a Series A round. Helping direct-to-consumers brands manage their operations from soup to nuts, the company offers customers logistics centres, storage solutions, customised analytics, and forecasts and operations optimisation suggestions. To date, the busy bees at Hive have raised approximately €37.9 million and have a post-money valuation of €135 million.
In their home market, in 2019, Germany’s e-commerce figures totaled 11 percent of the total retail market at a €94 billion business-to-consumer value, a figure that places the country in third place behind France at €103.4 billion, and the UK at €214.3 billion. With that much money on the table and up for grabs, Hive plans to invest the new capital into geographical expansion, beginning with Paris.
"With Hive, we are already the partner in all operational issues. We help other founders focus on their products instead of dealing with customs regulations and returns. The new capital gives us the opportunity to invest further in our software and build a pan-European offering for customers,” commented co-founder Franz Purucker.
In addition to existing investors including Earlybird, Picus, and Amplifier, Hive’s Series A round included backing from Activant and the omni-present Tiger Global.
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