Hive announced raising €1.6 million.

Hive Logistics, a Berlin, Germany-based startup building SAAS logistics solutions for e-commerce businesses, announced that it completed a €1.6 million ($1.9M) funding round.

The money was raised from investors from Germany, including Picus Capital and a range of business angels such as Roman Kirsch and Sebastian Merkhoffer.

Later edit: In April 2021 it was announced that the round was suplemmented to a total of €6.6 million, with a contribution of a new investor leading the round, Earlybird Ventures.

Hive, founded in 2020 by Oskar Ziegler, Leonard von Kleist and Franz Purucker, aims to become the go-to logistics software provider for DTC retailers, as it sells SAAS helping with storing, fast shipping and returns. The company is backed by 23 employees and has 15 paying customers.

Hive previously raised equity financing from Picus Capital in 2020.