E-commerce is booming and consumers are more demanding than ever. byrd, a Vienna-based company is armouring retailers with its logistics solution, so they can compete with other online shops, and meet consumers’ ever-increasing expectations. And the company is doing it without owning a single parcel or warehouse.
Now, the digital logistics and fulfilment platform, has raised €16 million (approx £13.7 million) in funding in a Series B round.
The investment round was led by new investors Mouro Capital, an autonomously managed venture capital fund focused on fintechs and adjacent businesses, joining Speedinvest, Verve Ventures, Rider Global, and VentureFriends.
The recent fund is followed by €5 million (approx £4.2 million) Series A round in July 2020, bringing the total funding to date to €26 million (approx £22 million).
UK expansion and plans
The Vienna-based company will use the funding to expand its fulfilment network into five new geographies in eastern, northern, and southern European markets. A part of the fund will go towards hiring talents and scaling offices in existing markets in Austria, France, and Germany.
Currently, Byrd has fulfilment locations based in the UK, and a portion of the new funding will be allocated towards scaling UK capabilities as well as expanding the UK based workforce.
With pandemic, the booming in online trade and e-commerce has led to a drastic increase in the volume of parcels. Already, online giants such as Amazon, Zalando & Co are investing several million in the expansion of logistics every year.
However, not every online retailer has the financial means to do so. Founded by Christoph Krofitsch, Petra Dobrocka, Sebastian Mach, and Alexander Leichter in 2016, Byrd offers a logistics platform, just like Airbnb or Flixbus, and with the help of technology, the startup combines supply and demand without running a single logistics location.
The cloud-based software can be incorporated with e-commerce systems, offering automation and transparency. At present, the company connects more than 200 online retailers with fulfilment centers and shipping services across multiple countries.
Handles whole order fulfilment process
The Austrian company handles the whole order fulfilment process right from storage to shipping and returns management. Instead of owning the warehouses, byrd partners with logistics companies across 15 sites.
Furthermore, byrd also gives merchants the ability to evaluate and manage their supply chain in real-time with a few simple clicks.
The company connects e-commerce systems and marketplaces (e.g. Amazon, Plentymarkets, Shopify, and Shopware) with its network of experienced third-party logistics providers.
300% revenue growth
The digital logistics and fulfilment platform has seen a revenue growth exceed 300% YoY and the business now handles thousands of parcels per month from large brands including Durex, Freeletics, Scholl, and Your Superfoods.
byrd provides sustainable solutions for direct-to-consumer brands, such as reduced plastic and recyclable packaging, and climate-neutral delivery solutions.
The company is already a certified carbon-neutral business and aims to become a pioneer of sustainable fulfilment and a leading provider of sustainable packaging and shipping solutions for its customers.
Petra Dobrocka, Co-founder and Chief Commercial Officer of byrd, commented: “This latest funding will turbocharge our already rapid growth, which has already seen us become Europe’s number 1 independent e-commerce fulfilment platform. E-commerce is a pivotal channel for today’s Direct-to-Consumer brands and, thanks to our comprehensive fulfilment platform and warehouse network, we are supporting more and more retailers to optimise their logistics processes, with a scalable and personalisable solution. We look forward to welcoming even more customers to our platform and helping them transform their e-commerce fulfilment into a competitive advantage.”
Manuel Silva Martínez, General Partner at Mouro Capital adds: “We are delighted to be leading byrd’s Series B funding round, particularly as the pandemic has brought the need for flexible, digital e-commerce fulfilment solutions into sharp relief. Byrd’s end-to-end capabilities, focus on sustainability, and household brand customers set it apart from its competitors, and we look forward to seeing the successes that the geographic expansion enabled by this investment will bring.”
The post Byrd, the Airbnb of logistics picks £13.7M funding; plans UK expansion appeared first on UKTN (UK Tech News).
