Huboo, which helps e-commerce brands manage warehousing and delivery logistics, has raised £44.7m, according to Companies House documents.
The filings, published in October and relating to the issuing of new shares in July, come after the Bristol-based startup’s cofounder and CEO Martin Bysh stepped down in May. He was replaced by Andrew Pinnington.
At the time, it was reported by multiple media outlets that Huboo had secured an undisclosed investment led by existing backer UAE sovereign wealth fund Mubadala and featuring other previous investors — which also gave the Abu Dhabi investor board control.
It’s not clear whether that round is related to the startup’s recent Companies House filings. Huboo didn’t respond to a request for comment by the time of publication.
According to Companies House filings published in August, Mubadala’s head of ventures Ibrahim Ajami and venture partner Berker Yağcı were appointed directors in April, alongside partner at existing Huboo backer Ada Ventures Matt Penneycard.
The startup also has the likes of Maersk, Episode 1 Ventures and Hearst Ventures on its cap table. The fresh funds take its total funding to more than $190m, according to Dealroom figures.
Founded in 2019, Huboo stores stock for consumer brands — from small businesses to multinational companies — in “micro-warehouses” within its larger warehouses, which it says reduces the amount of time it takes to fulfil orders.
It also helps those companies sell on sales channels like Amazon, eBay and Shopify. Huboo has fulfilment centres in the UK, the Netherlands, Spain and Germany.
Read the orginal article: https://sifted.eu/articles/huboo-mubadala-raise-news/
