Cubyn raise $35 million for new facility

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On-demand fulfllment startup, Cubyn has announced a €35 million round led by Eurazeo and Bpifrance Large Venture with new participation from First Bridge Ventures and Fuse Venture Partners, and follow-on funding from DN Capital, 360 Capital, Bpifrance Smart Cities fund and BNPP Developpement.

Cubyn will use its new funding to double its team of 85 to 170+ employees by the end of 2021, and deploy its service internationally, starting with Spain and Portugal launching in April 2021 followed by Italy, UK and Germany.

The company will also open a 25,000 sq m automated facility in the Paris area in the coming months, to increase its automation capabilities and continue to drive costs and delivery times down.

Cubyn made a major, strategic product launch into end-to-end e-Commerce fulfilment in Q3 2019, a fast-growing and highly fragmented market estimated at €500 billion worldwide.

Since then, the company has built proprietary technology to streamline merchant logistics, ranging from web apps to advanced optimisation through algorithm and warehouse robotics Cubyn’s technology stack enables the company to operate a fully integrated fulfilment solution at a fraction of the industry standard cost.

This positioning allowed the company to grow its Gross Merchandise Value from 30 to €250 million in 2020 for its first full year.

“We see a huge opportunity for a neutral, cost-effective, and efficient fulfilment network in the e-commerce space. 15% of the Gross Merchandise Value transacted in e-commerce globally goes to e-logistics. Still today, there is no scalable, efficient logistics solution aside from the ones offered by siloed marketplaces.

“Cubyn is disrupting the traditional e-Commerce third party logistics market from the ground up, offering a better, faster and cross-border service at a 30% lower price. We are also providing merchants with not just additional revenue streams, but with our international roll out, we are now opening up new markets for them, outperforming other options available in terms of cost and delivery speed by far,” said Cubyn co-founder and CEO, Adrien Fernandez-Baca.