Maersk invests €1.5m in Portuguese startup HUUB

Danish shipping, transport and logistics firm Maersk has announced the investment of €1.5-million in a Portuguese fashion logistics startup HUUB. The funding comes after a €2.5-million investment from Pathena in 2018. This allows the Porto-based firm to close its early-stage investment cycle with a total of €4.35-million.

A statement by HUUB said: "The seal, sealed with Maersk, the world's leading shipping company and one of the largest global groups in the field of logistics, with a turnover of $40 billion/year, represents the Danish multinational's first investment in a Portuguese startup."

HUUB allows online fashion retailers to focus on product, not shipping. Its platform integrates with ecommerce sites, providing a full range of logistics solutions including production follow-up, picking, storage, stock management, order fulfillment, packing, and shipping. HUUB’s algorithms also analyse sales to determine replenishment strategies and prevent understocking.

“We knew we were in an interesting place to negotiate a new investment before the next round – the Series A,” said Luís Roque, co-founder & CEO of HUUB. “We were looking for “smart money”, which means we wanted to ensure that, besides having the financial capabilities, our new partner could also bring value to the company. Maersk Growth undoubtedly represents the biggest player in this industry, and we are sure that they will continue to be a fundamental partner in HUUB’s growth.”

“At Maersk Growth we are happy to join HUUB on its journey forward,” said Tobias Elmquist, Partner at Maersk Growth. “We have been following HUUB and were impressed with its solution to the supply chain for fashion brands and its fast growth both in terms of customers and revenue. Leveraging Maersk’s industry expertise and global network we look forward to supporting HUUBs plans to further accelerate business growth.”

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