E-commerce fulfilment startup Cubyn bags €35m to expand across Europe

Paris-based logistics startup Cubyn has raised €35 million in a Series C round.

This brings its total raise to €55 million.

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The round was led by Eurazeo and Bpifrance Large Venture with new participation from First Bridge Ventures and Fuse Venture Partners.

Existing investors DN Capital, 360 Capital, Bpifrance Smart Cities fund and BNP Development were also involved.

Cubyn will use the cash to double its team to 170 employees, and also move beyond France.

Spain and Portugal will launch next month with Germany, Italy, and the UK also on the radar. The venture is also set to open a 25,000 m² automated facility in the Paris area this year.

“We see a huge opportunity for a neutral, cost-effective, and efficient fulfilment network in the e-commerce space,” says Co-founder and CEO Adrien Fernandez-Baca.

”15% of the GMV transacted in e-commerce globally goes to e-logistics. Still today, there is no scalable, efficient logistics solution aside from the ones offered by siloed marketplaces.”

He adds: “Cubyn is disrupting the traditional e-commerce third party logistics market from the ground up, offering a better, faster and cross-border service at a 30% lower price.”

“We are also providing merchants with not just additional revenue streams, but with our international roll-out, we are now opening up new markets for them, outperforming other options available in terms of cost and delivery speed by far.”