Huboo secures £29m from Ada Ventures, Maersk, HSBC, and Blackrock to fund profitability and market expansion.
The funding round was supported by existing backers Ada Ventures and Maersk alongside lenders HSBC and Blackrock.
Huboo operates software-driven warehouses using a micro hub model to provide end-to-end eCommerce fulfilment for online retailers across Europe and the US.
Bristol-based eCommerce fulfilment provider Huboo has secured £29m in a fresh funding round backed by existing investors Ada Ventures and Maersk, alongside lenders HSBC and Blackrock. The capital injection comes after a period of robust growth and cost discipline, pushing the company's total funding to £122m.
The business plans to direct the proceeds towards achieving profitability, expanding its market footprint, and driving long-term growth. Huboo reported doubling its size over the past year while halving overheads to navigate difficult market conditions, alongside expanding its European footprint into the Netherlands, France, Spain, and Germany.
From the founder
"Despite a challenging fundraising environment, the latest investment round is a testament to the confidence our investors have in our long-term vision and strategy. Our team has worked incredibly hard over the last 12 months to maintain our growth trajectory despite a poor macro outlook for eCommerce, introducing new services, like introducing automation for Enterprise clients, to enhance our customers’ experience and sustain our mission to revolutionise, simplify and transform eCommerce fulfilment."
Martin Bysh
CEO at Huboo
Investor perspective
"Never in my career in VC have I seen an investment opportunity with the scale prospects of Huboo. Ada Ventures invested in the first round, and every round since, because we saw the opportunity to mix state-of-the-art technology with operational know-how in a sector that had yet to be digitised. The upside is effectively unlimited here, and the team has more than justified all of our faith since that first investment."
Matt Penneycard
co-founding partner, Ada Ventures
Use of funds
- 01Expand into international markets
- 02Scale operations
