EQT Ventures leads €75m series-B round for Instabox

The startup, which launched in 2015, provides smart lockers for same-day delivery and has recently launched an emission-free bike delivery service, Instabikes.

Instabox will use the latest funding to further invest in technology to enhance the value-chain for customers and merchants. The money will also go towards expansion outside of Sweden; it expanded operations to Norway and Denmark last May.

The company claimed it was growing by 300% annually, delivering more than one million parcels each month, and had two million users across the country.

Previous funding 
In April last year, Instabox raised €14m in a series-A round from Creades and Cordet Capital Partners. Of the funding, €5m was new equity and €9m was the purchase of existing shares. The investors also provided a credit facility of €23m. 

Company
Founded in 2015 and based in Stockholm, Instabox is a logistics startup that provides quick, e-commerce deliveries. The company is operating more than 1,000 automated parcel machines in Sweden, Denmark and Norway and counts H&M, Ikea, Apotea and Boozt among its customers. It employs 200 staff. 

People
Instabox – Alexis Priftis (CEO, co-founder).
EQT Ventures – Ashley Lundström (partner).

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• Topics
• Early-stage
• Nordics
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• EQT Ventures
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• Nordic venture