- 5 May 2020
- Transport / Logistics Services
Swedish smart parcel locker company Instabox has announced plans to move into two new markets – Norway and Denmark. This follows a funding round of €36 million in April this year.
Alexis Priftis, CEO and co-founder of Instabox commented on the expansion: “The Danish and Norwegian market is a great fit for our smart parcel lockers, and I’m excited to start our operations across more countries in the Nordic region. We are expanding our business rapidly with the new equity from our financing round earlier in April, and I’m pleased that we can deliver on our plans for market expansion after just a few weeks”.
Since Instabox was founded in 2015, it has tripled its revenue every year. Lately the company has announced it is aiming at being net zero carbon and has launched a partnership with fashion giant H&M.
Priftis continued, “Online shopping has never been easier with our hassle-free same-day, seven-days-a-week delivery service – making it even smoother to pick up and return parcels without ever having to stand in line. Especially now, when consumers more than before are demanding smart, sustainable, and safe parcel pick-ups with minimum human interaction. We already have over 50 Swedish e-tail partners, and many of our partners with operations in Denmark and Norway are now ready to offer our smart delivery service to their customers in those markets as well”.