Last mile start-up Budbee wins £21.3 million investment
Latest investment brings total funding up to £82 million for Nordic-focused delivery service
AMF, a Swedish pension company, is investing £21.3 million in Budbee, a Swedish logistics technology start-up.
The start-up offers a last-mile delivery service with a sustainable focus via a purpose-built technology platform.
The new investment takes Budbee’s total funding to date to £82m.
The new funding will be used for international expansion, and new technology and processes to improve sustainability and customer service.
The start-up is focused on the Nordic market and was founded in 2015.
Budbee says it coordinates millions of deliveries monthly and said in a release that in 2020 it experienced a 200% increase in completed deliveries over 2019.
Budbee’s customers include brands like ASOS, Zalando and H&M, as well as independent e-commerce stores.