The Series B round drew participation from Tiger Global Management, Activant Capital, Earlybird Venture Capital, and Picus Capital. Here are the top-line bullets you need to know.
Hive Technologies, an e-commerce fulfillment company, has raised $34M in a Series B round. The round drew participation from Tiger Global Management, Activant Capital, Earlybird Venture Capital, and Picus Capital.
How’s the company performing?
- Germany-based Hive Technologies offers software and operational services to direct-to-consumer (D2C) brands to help them manage the e-commerce fulfillment process — from sourcing to delivery.
- Since its inception 18 months ago, the company has experienced 10x revenue growth, and it now processes a few thousand orders per day.
- It claims that it has helped customers cut costs by 30%.
- Its client base includes brands like Amazon, Shopify, Woo Commerce, PrestaShop, Yepoda, and Holy Energy, among others.
- Hive Technologies is currently supported by a team of over 100 employees.
Source: Hive Technologies
Why does the market matter?
- The global logistics market is projected to grow at a CAGR of 6.5% and reach a value of $13T by 2027, according to Allied Market Research.
- Demand for fulfillment solutions has risen amid the Covid-19-induced rise of online shopping and supply chain disruption.
- Shippers’ requests for moving goods have increased by 577% between April 2020 and April 2021, according to a DAT Solutions study.