Instabox , Sweden’s last unicorn , raises $190M in funding led by Verdane
Instabox has raised $190M (approximately €174.5M) in a growth equity round at a valuation of over $1B. The company will use the funding to invest in sustainable solutions, technology optimization, and its European footprint increase. The round led by Verdane had several new and existing investors like Creades, EQT Ventures, Tham Special Investment AB, Nineyards, Tacito, and M2 Asset Management.
Instabox is a logistics company that provides fossil-free e-commerce deliveries. Currently, the company operates 4,500 automated parcel lockers and home deliveries in the Nordics (Sweden, Norway, Denmark, the Netherlands, and Germany). The company says it has grown by 300 percent per year since its inception. Delivering more than 3M parcels across its markets, it also has partnerships with companies such as H&M.
“With a focus on sustainability, customer flexibility, and our advanced tech stack, we have found the winning combination of the best-in-class locker and home deliveries. We look forward to continuing our mission to revolutionize the world of shipping,”Priftis
Apart from this, it’s also Instabox’s lightning-quick, hassle-free, and entirely fossil-fuel-free shipping that sets it apart from traditional shipping companies, thus creating a hassle- and fossil-fuel-free future for the European consumer.