Instabox, a near Stockholm, Sweden-based next-gen technology company transforming last-mile deliveries for e-commerce, raised $90m in Series B funding.
The round was led by EQT Ventures.
The company intends to use the funds to further invest in technology that will enhance the value-chain for customers and merchants, plus expansion outside of Sweden.
Founded in 2015 by Alexis Priftis, Staffan Gabrielsson, and Johan Lundin, Instabox is a logistics startup that provides e-commerce deliveries across its locations in Sweden — with a maximum of six hours between the merchant and the consumer — through a smart locker network. The tech platform provides the team with real-time, end-to-end tracking of all deliveries, allowing for optimisation at each step of the way.
The service has been used by millions of Swedes shopping from merchants such as H&M, Ikea, Apotea and Boozt. The company is currently operating more than 1,000 automated parcel machines in Sweden, Denmark and Norway.