UKTN: Byrd Plans EU Expansion With £13.7 Million Funding
Posted on July 8th 2021, 12:31:36 pm
Category: Social Media
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Byrd, a Vienna-based company dubbed the ‘AirBnB of logistics,’ has raised £13.7 million in the Series B round of funding led by Mouro Capital. Byrd provides logistics solutions for retailers to improve their competitiveness.
The Austrian company provides a full package of logistics services from storage to shipping and returns’ management. They did all of this without owning a single warehouse. Byrd partners with logistics companies across 15 locations and connects e-commerce systems and marketplaces to them.
The new funding will be used to expand the fulfillment network into five new sites in eastern, northern, and southern European markets.
The offices in Austria, France and Germany will also be scaled up. Part of the new funding will be allocated towards scaling UK capabilities as well as expanding their UK-based workforce.
With the pandemic-fueled economy and the boom in e-commerce, the demand for logistics services has shot up. Byrd has seen their revenue growth exceed 300% YoY. Additionally, the business handles thousands of parcels from large brands monthly.
More than a logistics solution, Byrd also has sustainable options for direct-to-consumer brands such as reduced plastic and recyclable packaging and climate-neutral delivery solutions.
“This latest funding will turbocharge our already rapid growth, which has already seen us become Europe’s number 1 independent e-commerce fulfilment platform. E-commerce is a pivotal channel for today’s direct-to-consumer brands and, thanks to our comprehensive fulfilment platform and warehouse network, we are supporting more and more retailers to optimise their logistics processes, with a scalable and personalisable solution. We look forward to welcoming even more customers to our platform and helping them transform their e-commerce fulfilment into a competitive advantage,” shared Petra Dobrocka, co-founder and COO of Byrd.