Instabox secures €74m in Series B funding

Stockholm based same-day e-commerce delivery company Instabox has secured €74.23 million in Series B funding led by EQT Ventures. The aim of the investment round is to fuel expansion of the company both within and outside of the Nordic region.

In April 2020 Instabox had another funding round of €36 million and was valued at €100 million.

The aim of the company is to provide carbon-efficient deliveries both through low emissions delivery vehicles and a network of parcel lockers. “The shipping industry consists of ancient postal companies using fossil fuels and fossil tech,” says CEO and co-founder Alexis Priftis.

Instabox launched a delivery arm called Instabikes that is a home delivery service where cycle couriers pick up parcels from the Instabox lockers and take them the final mile to the customers. The company aims to deliver the parcels within six hours of the order being made from the merchant.