Warehow, a rapidly expanding e-commerce fulfilment company catering to fashion and homeware retailers, has raised €2.5 million in a Series A funding round led by the Midlands Engine Investment Fund II through its appointed fund manager Mercia Ventures, with support from existing investor MENA Moonshots.
Worksop-based Warehow enables retailers to sell on multiple marketplaces such as eBay, Very, Next and John Lewis through one fulfilment service. Items are picked and packed at its two state-of-the-art warehouses near Worksop and shipped by third-party couriers. Warehow also manages returns processing.
The company was founded in 2021 by Laurence Guy, Al Gerrie and Pete Harris as a spin-out from Laurence’s e-commerce business We Are Pentagon Group. Warehow employs 70 staff and has partnerships with leading brands such as River Island, Hoover, True Religion, and Puma. The company has doubled its revenue over the past year.
More storage capacity
The latest investment, which brings the total raised to over €4.45 million, will enable Warehow to further develop its technology, create additional storage capacity in one of its existing warehouses and step up its sales and marketing activities.
Co-founder and CEO, Pete Harris, commented: “This funding is a significant milestone for Warehow. It will enable us to accelerate our growth trajectory and execute our business plan more effectively. We’re excited about the opportunities and challenges ahead as we continue to scale.”
Howard Mitchell of Mercia Ventures, remarked: “Managing fulfilment across multiple sales channels is a complex task. Larger retailers are often focused on physical stores and their websites, while smaller businesses may lack essential infrastructure. Warehow’s efficient warehouse operations and innovative use of technology are key drivers of its success. This funding will enable the team to scale the business and meet the increasing demand.”
The £400 million Midlands Engine Investment Fund II covers the entire Midlands region and provides debt finance from £25k to £2 million and equity investment up to £5 million to help a range of small and medium sized businesses to start up, scale up or stay ahead.
Read the orginal article: https://www.eu-startups.com/2024/09/uk-based-warehow-raises-e2-5-million-to-meet-e-commerce-fulfilment-growing-demand/
