German logistics startup Warehousing1 has received €1 million seed funding from existing investors, to increase functionality of its platform and get larger customers on board.
Warehousing1, founded in 2018, is building Europe’s number one leading warehouse and distribution network. Companies can use the innovative cloud-based platform to find first-class warehouse logistics solutions anywhere, digitally manage them and efficiently optimize processes. This is a more flexible and cost-effective setup than renting space over a fixed contract period, or even building or buying your own warehouse. For example, customers can set up various sales locations that are billed variably depending on the workload – rented centrally and digitally managed via the Warehousing1 platform. This means that the capacity can be flexibly expanded in the event of seasonal fluctuations in storage requirements and the customer only pays for the space actually used. As a result, the Berlin startup now employs more than 20 people, and has already won 150+ companies as customers, including e-commerce startups and industrial and retail groups.
The young team was able to multiply its monthly turnover in a very short time by adding a cloud-based platform to its original offer. However, in order to expand further functionalities even faster on the platform and also get new large customers on board, the existing investors have already made additional funds available after almost six months. Investors of this round include HV Holtzbrinck Ventures, Base10 Partners, Discovery Ventures, the vehicle of the Zeitgold founders Jan Deepen and Stefan Jeschonnek, and the founding trio of the digital forwarding company Sending David Nothacker, Nicolaus Schefenacker and Julius Köhler.
“The rapid development in the past few months has inspired us and we quickly saw that Warehousing1 has the potential to be the European market leader in the warehouse logistics category. We are therefore very pleased to be able to further deepen the successful collaboration,” says Christian Saller, General Partner at HV Holtzbrinck Ventures.
“We were very pleased that at the beginning of the year all investors were so satisfied with our progress that they immediately added a significantly higher amount,” says co-founder Nils Aschmann. “We consider the follow-up investment to be an absolute vote of confidence and are ready to tackle the next exciting growth phase with full vigor.”
via https://www.AiUpNow.com/ by contact@bcurdy.com, Khareem Sudlow
