Instabox raises $5M in capital investment
Instabox, a Stockholm, Sweden-based company providing parcel delivery service with smart lockers based on central locations, secured SEK 46M ($5M) in a fresh capital investemnt round.
The money was provided by existing investors and will be used to further open parcel delivery hubs across Sweden.
Instabox, founded in 2010 and led by CEO Alexis Priftis, developed a parcel delivery service with smart lockers, usually located in convenience stores such as 7 Eleven or Pressbyran. The company is active in 12 locations in Mälardalen, Skåne and Västergötland and aims to set up operations in four other cities by end of 2018. Instabox is yet to become profitable, at a turnover of SEK 3.9M ($430k) in 2017.