Paack Pulls In A $225M Series D Led By Softbank To Scale Its E-Commerce Delivery Platform
01/26/22, 5:50 AM
Money raised
$225 million
Industry
software
Round Type
series d
By now, many of us are familiar with the warehouse robots which populate those vast spaces occupied by the likes of Amazon and others. In particular, Amazon was very much a pioneer of the technology. But it’s 2021 now, and allying warehouse robots with a software logistics platform is no longer the monopoly of one company.
Company Info
Additional Info
This means consumers are able to customize their delivery schedule at checkout, says the company. The company hopes it can compete with the likes of DHL, Instabox, and La Poste in Europe, which are large incumbents. This funding round comes after the creation of a profitable position in its home market of Spain, but Paack claims it’s on track to achieve similar across its European operations, Such as in the UK, France, and Portugal. Founded by Fernando Benito, Xavier Rosales and Suraj Shirvankar, Paack now says it’s delivering several million orders per month from 150 international clients, processing 10,000 parcels per hour, per site. Benito, CEO and Co-founder, said: “Demand for convenient, timely, and more sustainable methods of delivery is going to explode over the next few years and Paack is providing the solution. As a result, Paack claim it aims to deliver all parcels at carbon net-zero by measuring its environmental impact, using electric last-mile delivery vehicles. Paack says it is able to work with more than one robotics partner, but presently it is using robots from Chinese firm GEEK. One late-stage startup which has been ‘making hay’ with the whole idea is Paack, an e-commerce delivery platform which a sophisticated software platform that integrates with the robotics which are essential to modern-day logistics operations. We use technology to provide consumers with control and choice over their deliveries, and reduce the carbon footprint of our distribution.” Max Ohrstrand, Investment Director at SoftBank Investment Advisers said: “As the e-commerce sector continues to flourish and same-day delivery is increasingly the norm for consumers, we believe Paack is well-positioned to become the category leader both in terms of its technology and commitment to sustainability.”