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Alexis Priftis, co-founder and CEO of Instabox and Ashley Lundström, EQT Ventures
Alexis Priftis, co-founder and CEO of Instabox and Ashley Lundström, EQT Ventures

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Instabox raises $90 million led by EQT Ventures to transform last-mile delivery

Instabox raises $90 million led by EQT Ventures to transform last-mile delivery

  • Last-mile delivery solutions set to transform e-commerce logistics, as consumers form new habits during the pandemic and online shopping anticipated to reach new heights
  • Consumers and merchants more environmentally conscious, so a consolidation of deliveries is transforming logistics, allowing for a hyperlocal fulfillment network that brings efficiency gains for all stakeholders
  • Instabox will use the funding to optimise frictionless last-mile logistics services across European territories, with a sustainability focus

Instabox, a next-gen technology company transforming last-mile deliveries for e-commerce, today announces a $90 million Series B round led by EQT Ventures. Instabox makes parcel delivery faster, more sustainable, and efficient, looking to revolutionise the industry with solutions such as fossil fuel-free locker deliveries and the newly launched completely emission-free bike delivery service Instabikes. The funding will be used to further invest in technology that will enhance the value-chain for customers and merchants, plus expansion outside of Sweden.

The global parcels market was worth almost $430bn in 2019, a significant increase from $380bn the year previously, showing an already huge market opportunity now with unprecedented acceleration. Instabox offers fast, hassle-free delivery across its locations in Sweden -- with a maximum of six hours between the merchant and the consumer -- through its smart locker network, striving to revolutionise last-mile delivery.

The technology platform provides the team with real-time, end-to-end tracking of all deliveries, allowing for optimisation at each step of the way. Efficiently consolidating deliveries through a hyper-local fulfillment network brings not only speed, convenience, and cost benefits, but also creates sustainable delivery alternatives for consumers and merchants alike.

Founded in 2015 by Alexis Priftis, Staffan Gabrielsson, and Johan Lundin, the idea was originally to build an API for physical goods. Realising the difficulty of creating a new player in an ecosystem with century-old market leaders, the team started with e-commerce and approached a well-known Swedish pharmacy to deliver its packages with a same-day service to its eight smart lockers in Stockholm. In less than 15 minutes, the team had its first order. Emails from customers amazed by the speed and convenience of delivery followed. The need from consumers was obvious and so Instabox was born.

Today Instabox is the largest and fastest growing last-mile logistics startup in Sweden, growing by over 300% annually and delivering more than one million parcels each month, with over two million users across the country. Norway and Denmark are also seeing rapid growth, and plans for new markets are in development.

Alexis, CEO and co-founder at Instabox says: “The shipping industry consists of ancient postal companies using fossil fuels and fossil tech – which is why we’re super-excited about this new partnership with EQT Ventures. The new funding will allow us to take our super fast, hassle-free and fossil fuel-free shipping to millions more consumers across Europe and spark a renaissance in online shopping, just as we have done in Sweden.”

Ashley Lundström, Partner at EQT Ventures added: “Instabox is bringing tech DNA and customer centricity to one of the largest and oldest industries in the economy, and the market feedback is crystal clear in their fantastic growth. It’s a great partnership whereby we can bring our expertise to match their hunger and passion. We can’t wait to work with Alexis and team on this important mission.”

About InstaboxInstabox is a Swedish logistics startup that provides lightning quick, hassle-free and fossil-free e-commerce deliveries. Launched in 2015 by founders Alexis Priftis, Staffan Gabrielsson and Johan Lundin, the service has been used by millions of Swedes shopping from merchants such as H&M, Ikea, Apotea and Boozt. The company is operating more than 1,000 automated parcel machines in Sweden, Denmark and Norway and has consistently grown by more than 300% per year since its start, making it one of the fastest growing startups in Europe.

For further information please visit https://instabox.io

About EQT VenturesEQT Ventures is a multi-stage VC fund that partners with the most ambitious and boldest founders in Europe and the US. The fund is based in Luxembourg and has investment advisors stationed in Stockholm, Amsterdam, London, San Francisco, Berlin and Paris. Fuelled by some of Europe’s most experienced company builders and scalers, EQT Ventures helps the next generation of entrepreneurs with the capital and hands-on support needed to build global winners.For further information please visithttps://eqtventures.com/

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Instabox tilbyr enkel og rask levering gjennom smarte oppbevaringsskap. Selskapet leverer logistikktjenester til flere av Nordens største e-handelsaktører som H&M, IKEA og Boozt.com. Instabox kan levere samme dag som bestillingen finner sted til mer enn seks millioner svensker, og nå også kunder i Norge og Danmark. Virksomheten ble stiftet i 2015 av Alexis Priftis, Johan Lundin og Staffan Gabrielsson. Les mer på www.instabox.no