Instabox announced raising $91 million in a round led by EQT Ventures.

Instabox, a Stockholm, Sweden-based provider of delivery services, announced securing funding of SEK 750 million ($91M), in what they call a series B investment round.

The money was raised from investors led by the local investor from Sweden EQT Ventures, and included contributions from existing shareholder Creades, which participated with SEK 150 million.

Instabox, founded in 2010 by CEO Alexis Priftis, Staffan Gabrielsson, and Johan Lundin, developed a logistics service for e-commerce retailers, offering same-day delivery through its network of last-mile smart delivery lockers. The company says it has about 1100 lockers spread out throughout Sweden, Norway and Denmark, and the pickup service is combined with emission-free bike delivery service Instabikes with a maximum of six hours between the merchant and the consumer. The company’s platform provides the team with real-time, end-to-end tracking of all deliveries, allowing for optimisation at each step of the way.

Instabox works with clients including H&M, Ikea, Apotea, and Boozt which produced SEK 63M ($7.6M) in 2019 and says that it grows at rate of 300% annually. The company previously raised about $13 million, last round in 2020.