Fulfilment startup Cubyn raises €35M to expand across Europe

Cubyn, the Paris-based logistics startup that lets e-merchants outsource fulfilment and delivery logistics, has raised another €35 million in funding.

The round is led by Eurazeo and Bpifrance Large Venture, with participation from First Bridge Ventures and Fuse Venture Partners. Existing backers DN Capital, 360 Capital, Bpifrance Smart Cities fund and BNP Paribas Développement followed on.

Cubyn says it will use the new funding to double its team of 85 to more than 170 employees by the end of 2021, and deploy its service more internationally. First up is Spain and Portugal (launching next month), followed by Italy, the U.K. and Germany.

Impressively, the company will open a 25,000 square meter “automated” facility in the Paris area in the coming months as it looks to drive down costs and delivery times.

Originally offering pickup and delivery only, 18 months ago, shortly after Cubyn raised €12 million in Series B funding, the company launched “Cubyn Fulfilment,” seeing it enter fulfilment too.

Described at the time as a fully integrated solution that covers the entire fulfilment process, including keeping stock in Cubyn’s warehouses, it set the company up to grow off the back of an e-commerce boom, prompted not only by the pandemic most recently but also the continuing D2C and marketplace trend. For example, marketplaces Back Market, Rakuten, Mirakl and Fnac are currently using Cubyn.

Its proprietary technology aims to streamline merchant logistics, “ranging from web apps to advanced (Read more...)