Paris-based on-demand logistics start-up Cubyn is to launch its service in Portugal after raising 35 million euros in a funding round, according to a statement released on Thursday.
Cubyn’s platform “will be launched first in Spain and Portugal due to the fact that these two countries share the top 5 ‘e-commerce’ markets in Europe allowing many opportunities”. Moreover, “for Cubyn these are already the main countries regarding their cross-border flows”.
“The expansion will be directed from Spain, with these two countries being jointly serviced from a warehouse on Spanish territory, thus taking advantage of the good relationship of carriers on the border,” the company said.
The funding round raised will be used to increase the company’s team from 85 to over 170 employees by the end of 2021, aiming to “roll out its service internationally, starting with the launch in Portugal and Spain in April 2021, followed by Italy, the UK and Germany”.
In addition, the company will open “automated facilities of 25,000 m2 in the Paris region in the coming months, to increase its automation capabilities and pursue its policy of reducing costs and delivery times”.
Cubyn CEO and co-founder Adrien Fernandez-Baca said that “Portugal and Spain together would be one of the top five ‘e-commerce’ markets in Europe, although they still have a long way to go in terms of logistics maturity,” which opens up opportunities for the group.
Cubyn has developed proprietary technology “to streamline merchant logistics operations, from web ‘apps’ to advanced optimisation through algorithms and robotics at the service of warehouses”, a set of technologies that allows “operating a fully integrated logistics solution and below industry standard costs”, the company explained.
The group has already raised a total of €55 million in funding and currently employs 85 people, having since its inception “processed more than five million shipments from its warehouses in Paris”.