The company was last valued at $773M in January 2022. Here are the top-line bullets you need to know.
Instabox, a logistics startup, has raised $190M in a Series C. The round drew participation from Verdane Capital, Creades, EQT Ventures, and Nineyards Equity, among others.
How’s the company performing?
- Sweden-based Instabox enables packages to be delivered from retailers to consumers via a network of smart lockers.
- The company currently operates 4,500 automated parcel lockers and provides home delivery services across Sweden, Norway, Germany, Denmark, and the Netherlands.
- The startup’s recent acquisitions include Porterbuddy, a Norwegian logistics and e-commerce delivery firm, and Red je Pakketje, a same-day delivery company.
- Instabox has reportedly grown by more than 300% each year since its launch in 2015, and it currently delivers more than 3M parcels every month.
- The company has collaborated with several major brands, including H&M, IKEA, Junkyard, Kjell & Company, Sneakers Point, Bikester, and Blush Me.
Source: Instabox
Why does the market matter?
- The global last-mile delivery market is expected to reach a value of $200.4B by 2027, growing at a CAGR of 9.29%, according to Brand Essence Research.
- E-commerce adoption has increased, particularly amid the pandemic, which has driven growth in this market.
- The advancement of light-duty vehicles and expansion of transport facilities have also contributed to market growth.
