Cubyn , the Paris-based logistics startup that lets e-merchants outsource fulfilment and delivery logistics, has raised another €35 million in funding.
The round is led by Eurazeo and Bpifrance Large Venture, with participation from First Bridge Ventures and Fuse Venture Partners. Existing backers DN Capital, 360 Capital, Bpifrance Smart Cities fund and BNP Paribas Développement followed on.
Cubyn says it will use the new funding to double its team of 85 to more than 170 employees by the end of 2021, and deploy its service more internationally. First up is Spain and Portugal (launching next month), followed by Italy, the U.K. and Germany.
Impressively, the company will open a 25,000 square meter “automated” facility in the Paris area in the coming months as it looks to drive down costs and delivery times.
Originally offering pickup and delivery only, 18 months ago, shortly after Cubyn < a good solid href="https://techcrunch.com/2019/07/03/cubyn/"> raised €12 people of in Series B support , the company launched “Cubyn Fulfilment, ” seeing the problem enter fulfilment too.
Define at the time as a fully listed solution that covers a little something fulfilment process, including trying to keep stock in Cubyn’s production facility, it set the company down to grow off the back of an commerce en ligne boom, prompted not only by its pandemic most recently but also each continuing D2C and economy trend. For example , marketplaces Down Market, Rakuten, Mirakl furthermore Fnac are currently using Cubyn.
Its little-known technology aims to streamline mercantile logistics, “ranging from www apps to advanced advertising in frisco tx through algorithm and shop robotics, ” says Cubyn. The result is that it claims to must you operate a fully integrated fulfilment solution at a fraction of the industrial sectors standard cost. This has looked upon the company grow its low merchandise value (GMV) at the hands of €30 million to €250 million in 2020.
“Cubyn is disrupting the traditional e-commerce third party logistics market from the ground up, offering a better, a lot faster and cross-border service a 30% lower price, ” speaks Cubyn co-founder and CEO Adrien Fernandez-Baca in a subject. “We are also providing merchants with not just additional returns streams, but with our online roll out, we are now checking new markets for them, outperforming other options available in terms along with cost and delivery momentum by far”.
“COVID has accelerated the need for merchants to have a reliable, scalable and tech fulfilment treatment, ” notes Antoine Izsak at Bpifrance Large Move fund. “We’re excited to are designed for Cubyn to scale their precious business across Europe in the next few months”.
Adds Fernandez-Baca: “Today 85% of our shipments are in England, 15% international. With the advancing, the ratio is estimated to change to 50-50”.