Instabox: continuing on our mission to revolutionise the world of shipping
Swedish tech company Instabox has closed a $190 million growth equity round led by Verdane, the European specialist growth equity investor.
Instabox has challenged traditional shipping services and revolutionised how online shoppers can receive their e-commerce parcels. By placing smart automated parcel lockers at convenient locations, customers can choose when, where and by whom a parcel is picked up – all without standing in line or waiting at home all day for your parcel. The combination of faster (often same-day) and more sustainable (completely fossil-free) deliveries has quickly made Instabox a favorite among many shoppers.
In the $190 million growth equity round, Verdane will roll its stake in Norwegian home delivery company Porterbuddy, recently acquired by Instabox, as well as invest new capital in Instabox. The round is also backed by existing owners including Creades, EQT Ventures, Tham Special Investment AB, Nineyards, Tacito, and M2 Asset Management, and a number of new investors.
“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”, says Alexis Priftis, CEO and Co-Founder of Instabox.
“With a focus on sustainability, customer flexibility, and our advanced tech stack, we have found the winning combination of best-in-class locker deliveries and home deliveries. We really look forward to continuing on our mission to revolutionize the world of shipping,” says Alexis Priftis.
Christian Jebsen, Partner at Verdane and a new member of the Instabox board, comments: “The Verdane team has followed Instabox for a long time and is pleased to partner with Instabox’s pioneering team on the journey to transform last-mile deliveries. As one of the most active digital consumer investors in Northwestern Europe, Verdane is well placed to support Instabox’s geographical expansion, drawing on our significant experience scaling sustainable consumption and digital consumer businesses across the Benelux, DACH, and Nordic regions. We look forward to working closely with the Instabox team to create a hassle- and fossil fuel-free future for the European consumer.”