As a result of lockdown, across Europe, growth in online retail sales in May was 35% higher than one year ago, as per reports. The ongoing growth in online retail has been surging as consumers of all ages have embraced online shopping. A surge in online spending directly results in increased demand for warehouse space.
Reportedly, the European logistics market is expected to grow by $217.5B (approx €183.2B) during 2020-2024 progressing at a CAGR of 3% during the forecast period.
This is where Everstox aims to fill the gap in the market with its two-sided platform solution: merchants and logistics providers benefit on the one hand from automated, optimised warehouse and logistics processes and from digital tools for day-to-day operations. While on the other hand, the platform offers e-commerce, wholesalers, and retailers scalable access to a broad European network of independent logistics partners.
Raises €3M in growth funding
The Munich-based startup Everstox that offers API-based storage and delivery solutions with its logistics-as-a-Service (LaaS) platform has raised €3M in a fresh round of funding.
The investors in this round include Capnamic Ventures, Global Founders Capital, and existing investor Flash Ventures. Rocket Internet invested during a pre-seed round back in January.
With the raised funding, the startup looks to expand its team, further develop its tech platform, and expand its network of independent warehouse logistics partners.
About Everstox
Founded in 2019 by Boris Bosch, Felix Haberland, and Johannes Tress, Everstox is the developer and operator of the logistics-as-a-Service platform. Its API-driven platform has in-house developed cloud technology and smart logistics features.
The platform’s solution can be connected to webshops such as Shopify, ERP systems, or marketplaces such as eBay and can enable the optimisation and automation of operational warehousing, fulfillment, and shipping processes.
European logistics partner network
According to Everstox, after the peak of the nationwide lockdown, it has steadily expanded its network of independent warehouse logistics partners and processed thousands of orders from German retailers.
Through the Everstox network, merchants can build a Europe-wide, scalable and flexible logistics and distribution setup, and launch their products across different markets and channels independently of individual providers.
According to the company, many traditional solutions that deliver individual products directly across Germany or Europe are not only inefficient, but also have a negative impact on the environment. One of its main goals is therefore to drastically shorten transport routes of individual last-mile deliveries and returns through decentralised warehousing.
Image credit: Everstox
