Instabox raises $5M in capital investment

Sweden Investments 26 October 2018
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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.

Priro to this investment round, Instabox raised almost $3M from investors including Swedish angels Daniel Pilotti, Paul Fischbein and Pär Svärdson.

Round Value (USD): $5.03M
Round investors: Undisclosed
Company: Instabox
Industry: Logistics