French logistics startup Stockoss secures €4 million in seed funding, plans European expansion
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French logistics startup Stockoss has successfully secured €4 million in seed funding, in a round led by Pi Labs, a London-based venture capital firm. This funding round also saw participation from Global Brain, 50Partners, Hartwood, and Kima Ventures, TechFunding News.com reports.
The newly acquired investment positions Stockoss to expand its innovative logistics solution to untapped markets, including the UK, Germany, and Spain. At present, Stockoss boasts 180 customers, a storage facility accommodating 650,000 products, and manages 55,000 monthly shipments with a team of 22.
Co-founded by Laurent Bonnet and Franck Nussbaumer, Stockoss aims to successfully meet the demands of the ever evolving logistics sector, by leveraging technology to optimise the operations of Europe’s 35,000 independent warehouses, prioritising upgrades over constructing new facilities. Through its cutting-edge software, the company integrates the entire logistics value chain, aiming to enhance visibility, efficiency, and automation, empowering independent warehouse owners to operate on a larger scale and compete with industry giants.
For customers, Stockoss offers a user experience akin to Amazon, simplifying the shipping and storage process.
Across Europe, 76% of all warehousing space is operated by SMEs, but much of this existing stock is unable to meet customer demands for more flexible, efficient, timely and cost-effective solutions for their storage and distribution needs. The way to sustainably meet growing demand is to use technology to upgrade the operations potential of Europe’s existing 35,000+ independent warehouses instead of building new stock. Stockoss reflects our overall mission to invest in technology that will digitalise and decarbonise the built environment, particularly in logistics and distribution which is one of the fastest-growing segments in the sector. We are thrilled to be supporting Laurent and Franck as they execute their vision to leverage technology to automate operations and drive sustainable growth in logistics.” said Faisal Butt, Founder and Managing Partner of venture capital firm Pi Labs, eu-startups.com reports.