Cubyn, the Paris-based logistics startup that e-merchants can use to outsource fulfillment and delivery logistics, has raised a further 35 million euros in funding.
The round will be led by Eurazeo and Bpifrance Large Venture with the participation of First Bridge Ventures and Fuse Venture Partners. Existing supporters DN Capital, 360 Capital, Bpifrance Smart Cities Fund and BNP Paribas Développement followed.
Cubyn says it will use the new funds to double its 85-strong team to more than 170 employees by the end of 2021 and to deploy its service more internationally. First up are Spain and Portugal (starting next month), followed by Italy, Great Britain and Germany.
It is impressive that the company will be opening a 25,000 square meter “automated” facility in the Paris area in the coming months in order to reduce costs and delivery times.
The company originally only offered pickup and delivery 18 months ago, shortly after Cubyn raised $ 12 million in Series B funding, and launched Cubyn Fulfillment to help achieve fulfillment as well.
Described at the time as a fully integrated solution covering the entire fulfillment process, including warehousing in Cubyn’s warehouses, it led the company to grow out of an e-commerce boom that was not only caused by the recent pandemic, it also triggered the ongoing D2C and market trend. For example, the Back Market, Rakuten, Mirakl, and Fnac marketplaces are currently using Cubyn.
The proprietary technology aims to streamline dealer logistics. “From web apps to advanced optimization through algorithm and warehouse robotics,” says Cubyn. The result is that it claims to have a fully integrated fulfillment solution at a fraction of the industry cost. This enabled the company to increase its gross product value (GMV) from EUR 30 million to EUR 250 million in 2020.
“Cubyn is fundamentally disrupting the traditional third-party logistics e-commerce market and offering better, faster, cross-border service at a 30% lower price,” said Adrien Fernandez-Baca, Co-Founder and CEO of Cubyn, in a statement. “Not only do we offer retailers additional sources of income, but with our international launch we are now opening up new markets for them and far exceeding other options in terms of cost and delivery speed.”
“COVID has increased the need for merchants for a reliable, scalable and technical fulfillment solution,” explains Antoine Izsak from the Bpifrance Large Venture Fund. “We look forward to working with Cubyn to scale their business across Europe over the next few months.”
Fernandez-Baca adds: “Today 85% of our shipments are in France and 15% international. With funding, the ratio is expected to change to 50-50. “