InstaFreight scores $40 million investment in Series B funding round
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Digital freight-forwarder and logistics solutions provider InstaFreight has just announced an additional $40 million investment that has come courtesy of its Series B funding round.
Writing about the news on LinkedIn, the company declared that the $40 million investment is the largest in its history.
Heliad Equity Partners and the European Investment Bank (EIB) contributed to the investment, which InstaFreight believe is an illustration of the “great potential” that lies in its “unique tech-based business model”.
The company adds that the funding will help with its “next big step” on its “journey to become the biggest digital logistics provider for land transport in Europe”.
Set up in Berlin in 2016, Instafreight is spearheaded by Markus Doetsch, Maximilian Schaefer and Philipp Ortwein. According to Crunchbase, the business had attracted 31 million euros of investment prior to today’s announcement.
Last year, the company recorded a growth rate of over 1000% percent based on the four years beforehand, and came 7th place in the Deloitte Technology Fast 50 2021.