Funding Roundup: Rush, Instabox, Convoy, Zubale, Celcius and Outshifter Raise Capital

Apr 22, 2022

It has been a great week for startups in the e-commerce, logistics and supply chain space. In this week’s Ecosystem Funding Roundup, we are thrilled to feature 6 of their outstanding achievements:

Rush Seed Funding

Rush is a Blugarian shipment tracking software that creates better e-commerce experiences by optimizing the post-purchase process for its merchants. In a short span of time, it has grown its client base to over 1200 Shopify stores of all sizes. The team will use the €2.5M seed funding to ramp up its development, as well as expand its network with top agencies, technology platforms and warehouse solutions. 

  • Year Founded: 2020

  • Founders: Kiril Kirilov, Slav Stankov

  • Location: Sofia, Bulgaria

  • Latest Funding: €2.5M Seed

  • Lead Investors: Eleven Ventures, LAUNCHub Ventures

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Instabox Growth Equity Funding

Automated parcel locker service provider Instabox has closed a $190M growth equity round led by Verdane. Founded just seven years ago, Instabox is now the most well-funded parcel locker startup in all of Europe. The fresh capital will allow the company to broaden its reach internationally, upgrade its tech stack and invest in sustainability solutions to continue transforming the world of last-mile deliveries.

  • Year Founded: 2015

  • Founders: Alexis Priftis, Johan Lundin, Staffan Gabrielsson

  • Location: Stockholm, Sweden

  • Latest Funding: $190M Growth Equity

  • Lead Investors: Verdane

Convoy Series E Funding

Convoy is a digital freight network that is “transporting the world with endless capacity and zero waste.” Using technology and data, Convoy helps shippers and drivers increase earnings by solving problems of inefficiency and waste in the $800M trucking sector. Following its recent $260M Series E, the company is looking to scale up initiatives that will further push the industry into new ground. 

  • Year Founded: 2015

  • Founders:  Dan Lewis, Grant Goodale

  • Location: Seattle, United States

  • Latest Funding: $260M Series E

  • Lead Investors: Baillie Gifford, T. Rowe Price

Zubale Series A Funding

Zubale is the leading tech firm that simplifies e-commerce fulfillment for brands and retailers across Latin America. With its proprietary embedded software and gig collaboration marketplace, Zubale enables its clients to offer best-in-class shopping experiences through their digital channels. The $40M raised from the latest Series A will support the company’s plans to accelerate its growth and expand abroad.

  • Year Founded: 2018

  • Founders: Alison Campbell, Sebastian Monroy

  • Location: Mexico City, Mexico

  • Latest Funding: $40M Series A

  • Lead Investors: QED Investors

Celcius Series A Funding

Celcius claims to be India’s one and only cold-chain aggregator platform that delivers end-to-end cold-chain logistics solutions to companies. As part of the larger Series A, the firm has acquired $4.5M in a bridge funding round led by Mumbai Angels. On top of strengthening teams across tech, sales, and operations, the investment will also go towards development programmes to assist small-scale and regional transporters in the country.

  • Year Founded: 2020

  • Founders: Arbind Jain, Rajneesh Raman, Swarup Bose

  • Location: Mumbai, India

  • Latest Funding: $4.5M Series A

  • Lead Investors: Mumbai Angels

Outshifter Pre-Seed Funding

Outshifter is a Norwegian e-commerce startup that “lets suppliers share access to their product data with multiple third parties simultaneously.” Just the other day, the team completed a €1.2M pre-seed with the Nordic fund Mak.vc as its lead investor. Their ultimate goal is to level the playing field for e-commerce by enabling access and synchronization of product data through one universal format.

  • Year Founded: 2019

  • Founders: Angelo Sepulveda, Danielle Tschudi, Georg Michelet

  • Location: Oslo, Norway

  • Latest Funding: €1.2 M Pre-Seed

  • Lead Investors: Nordic fund Mak.vc 

A huge congratulations to all and we are looking forward to witnessing your growth in the months to come!

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