Maersk Growth, the corporate venture arm of container logistics company giant A.P. Moller – Maersk, today announced growth investment into Huboo, the UK-based multi-channel fulfillment service for e-commerce businesses of all sizes.
Huboo’s innovative software platform provides professional, flexible and affordable fulfilment services that enable e-commerce businesses of any scale to deliver products to customers. The solution is particularly relevant for the UK’s 5.9 million small and mid-sized enterprises (SME) for which e-commerce fulfilment can be a time-consuming and expensive gridlock on growth. Huboo currently operates in the UK, with plans expand into Europe and the U.S. where the total market opportunity is an estimated £27 billion. Huboo achieved more than 100 percent quarterly growth at the end of last year. With Maersk Growth’s support, Huboo will continue to develop its scalable software-enabled operating model and expand the suite of fast and affordable fulfilment services available to customers.
Martin Bysh, CEO at Huboo, said, “Technology has armed retail businesses with an array of enterprise-grade opportunities right up to the point of picking, packing and shipping products to their buyers, quickly, reliably and cost-effectively. In the UK alone, e-commerce fulfilment is a £4billion market that our technology and service offering is custom engineered to fit, with future opportunities on a global scale. Our relationship with Maersk Growth brings strategic insight, capital and a fresh perspective to the table. We are strongly-positioned to scale our technology and unlock new opportunities further afield.”
Maersk Growth makes minority growth equity investments to support ambitious, innovative and fast-growth early-stage businesses.
Oliver Finch, Investor at Maersk Growth, said, “Fulfillment is a surprisingly complex and time-consuming aspect of e-commerce, particularly for smaller and mid-size companies that are the meaningful engines of global economic growth. Huboo offers a breakthrough to this underserved market, using advanced automation software to provide an effective and scalable solution. There’s clear alignment with Maersk Growth’s focus on driving innovation in the transport and logistics value chain and we are incredibly excited to be part of Huboo’s onward success.”
Huboo’s innovative software-driven approach offers multi-channel fulfilment services with a level of flexibility, speed and service traditionally only accessible to larger organisations. A clear front-end dashboard provides stock control, order tracking and billing information to Huboo customers, while the core operational technology integrates with popular sales channels and marketplaces, such as Amazon, eBay and Shopify, to directly receive and process orders in real time. Huboo’s warehousing and fulfilment service includes automated inventory management, storage, picking, packing and postage of items as they are sold, enabling businesses of all shapes and sizes to be competitive in today’s fast-paced retail environment.
Maersk Growth’s investment follows a substantial seed round led by Episode 1, including True Capital and Ada Ventures. In less than a year following seed investment, Huboo has more than tripled its customer base to currently serve around 300 retailers, and grown to a team of over 50 staff.