Instabox, a company that claims to transform last-mile deliveries for e-commerce, announced that it has raised a $190M (approximately €174.5M) growth equity round at a valuation of over $1B. The round was led by Verdane.
Several new and existing investors like Creades, EQT Ventures, Tham Special Investment AB, Nineyards, Tacito, and M2 Asset Management participated in the round. To date, the company has raised $327M in funding.
The Stockholm-based company will use the funding to continue investing in sustainable solutions, optimise its technology, and increase its European footprint.
Alexis Priftis, CEO and Co-Founder of Instabox, says, “I’m delighted with the trust that has been shown us by our existing and new investors. The global parcels market continues to grow every year, and Instabox’s lightning-quick, hassle-free, and completely fossil fuel-free shipping set us apart from traditional shipping companies. The new funding will help us build on that and further improve our service, making it even more sustainable and customer-focused.”