Byrd, Logistics Airbnb Selects £ 13.7million Funding; plans expansion in UK
E-commerce is booming and consumers are more demanding than ever. byrd, a Vienna-based company, equips retailers with its logistics solution, so that they can compete with other online stores and meet ever-increasing consumer expectations. And the company does it without owning a single package or warehouse.
Now the digital logistics and fulfillment platform has raised â¬ 16million (around Â£ 13.7million) in funding through a Series B round.
The investment round was led by new investors Mouro Capital, an independently managed venture capital fund focused on fintechs and adjacent businesses, joining Speedinvest, Verve Ventures, Rider Global and VentureFriends.
The recent fund is followed by a â¬ 5million (approx. Â£ 4.2million) Series A round in July 2020, bringing the total funding to date to â¬ 26million (approx. pound sterling).
Expansion and plans in UK
The Vienna-based company will use the financing to expand its distribution network into five new geographies in Eastern, Northern and Southern European markets. Part of the fund will be used to recruit talent and develop offices in existing markets in Austria, France and Germany.
Currently, Byrd has UK based fulfillment sites, and part of the new funding will be allocated to scaling up UK capacity as well as expanding the UK-based workforce.
With pandemic, the rise of online commerce and e-commerce has led to a drastic increase in the volume of parcels. Already, web giants like Amazon, Zalando & Co invest several millions each year in the expansion of logistics.
However, not all online retailers have the financial means to do this. Founded by Christoph Krofitsch, Petra Dobrocka, Sebastian Mach and Alexander Leichter in 2016, Byrd offers a logistics platform, like Airbnb or Flixbus, and using technology, the startup combines supply and demand without managing a single logistics site.
Cloud-based software can be integrated with e-commerce systems, providing automation and transparency. Currently, the company connects more than 200 online retailers with distribution centers and shipping services in multiple countries.
Manages the entire order fulfillment process
The Austrian company handles the entire order fulfillment process, from storage to shipping and returns management. Instead of owning the warehouses, byrd partners with logistics companies at 15 locations.
In addition, byrd also gives traders the ability to assess and manage their supply chain in real time with just a few clicks.
The company connects e-commerce systems and marketplaces (e.g. Amazon, Plentymarkets, Shopify, and Shopware) with its network of experienced third-party logistics providers.
Revenue growth of 300%
The digital logistics and fulfillment platform saw revenue growth exceeding 300% year-on-year and the company now handles thousands of packages per month from top brands such as Durex, Freeletics, Scholl and Your Superfoods .
byrd provides sustainable solutions for direct-to-consumer brands, such as reduced plastic and recyclable packaging, and climate-neutral delivery solutions.
The company is already a certified carbon neutral company and aims to become a pioneer of sustainable execution and a leading provider of sustainable packaging and shipping solutions for its customers.
Petra Dobrocka, co-founder and commercial director of byrd, said: âThis latest funding will boost our already rapid growth, which has already enabled us to become the leading independent e-commerce order fulfillment platform in Europe. Ecommerce is an essential channel for direct-to-consumer brands today, and with our comprehensive order fulfillment platform and warehouse network, we are helping more and more retailers to optimize their logistics processes, with a scalable and customizable solution. We look forward to welcoming even more clients to our platform and helping them turn their ecommerce execution into a competitive advantage.
Manuel Silva MartÃnez, General Partner at Mouro Capital adds: âWe are delighted to lead byrd’s Series B financing round, especially as the pandemic has highlighted the need for flexible and digital trade execution solutions. electronic. Byrd’s end-to-end capabilities, focus on sustainability and domestic branded customers set it apart from its competitors, and we look forward to seeing the successes that the geographic expansion enabled by this investment will bring.