Storebox Holding GmbH, a Vienna-based self storage, warehousing and logistics startup, has raised €52 million in a Series B investment round to increase its presence and services across Europe. The company intends to expand its last-mile delivery capabilities by adding multi-functional warehouses for use by business and residential customers as well as to grow its franchise base, according to a press release.
With this investment, we aim to open thousands of locations in Europe over the next few years and to become the market leader in micro-logistics hubs to provide, among other things, the necessary infrastructure for ‘Q Commerce,’ i.e., the delivery of online orders within minutes.”
The funding round drew participation from several investors including Activum SG, Attila Balogh, Kineo Finance, n3K Holding, Senger-Weiss, Wicklow Capital Inc. and Wille Finance. Previous investors Apic Investments and Romulus Consulting GmbH also contributed.
Though Storebox offers traditional self storage services, it sees growth opportunities in leveraging and expanding its sites to be used as part of a logistics network for businesses and consumers who require quick delivery and inventory distribution.
“With this investment, we aim to open thousands of locations in Europe over the next few years and to become the market leader in micro-logistics hubs to provide, among other things, the necessary infrastructure for ‘Q Commerce,’ i.e., the delivery of online orders within minutes,” said CEO Johannes Braith. “Storebox already has one of the fastest-growing franchise systems in Europe, and with its completely digitized access solution, enables new logistics and warehouse concepts.”
Storebox will initially concentrate on increasing its footprint in its German-speaking markets, primarily in cities with populations of 30,000 or more. The company also intends to enter several European countries where it doesn’t yet have a presence, the release stated.
“Due to the booming online trade, several industries are recording enormous growth figures in the home-delivery sector,” Braith said. “Last-mile logistics will require new forms and structures to meet the growing market trends. Storebox, with its decentralized and digitized location network, will play a key role in the development of the important future market of urban logistics.”
Founded in 2016 by Braith, Ferdinand Dietrich and Christoph Sandraschitz, Storebox operates 120 locations in Austria, Germany, Luxembourg and Switzerland.