Stockoss, a French logistics tech startup, has raised €4 million in seed funding led by London VC Pi Labs, which recently backed Responsibly and Kamma. Global Brain, 50Partners, Hartwood, and Kima Ventures also participated in the round.
The investment will enable Stockoss to take its solution and expand its logistics network to new geographies such as the UK, Germany and Spain. Also, it will help the company grow its team further to continue delivering a better product experience.
What challenge does it tackle?
Reportedly, 76% of all warehousing space is operated by SMEs across Europe. However, much of this existing stock is unable to meet customer demands for more flexible, efficient, timely and cost-effective solutions for their storage and distribution needs. The way to sustainably meet growing demand is to use technology to upgrade the operations potential of Europe’s existing over 35,000 independent warehouses instead of building new stock.
Founded by Laurent Bonnet and Franck Nussbaumer, Stockoss is placed to meet these demands and accelerate the digital transformation of the logistics sector with its next-gen software. Combining the entire logistics value chain and improving the visibility, efficiency and automation of operations, Stockoss gives independent, localised warehouse owners a platform to operate on a much bigger scale and compete with bigger rivals. For customers, Stockoss provides an Amazon-like user experience enabling them to ship and store their products and stock at the click of a button.
Currently, the company has 180 customers, 650,000 products in storage and manages 55,000 monthly shipments with a team of 22.
Laurent Bonnet, Founder and CEO at Stockoss, said: “We are proud that our platform enables hundreds of users to simplify and automate their logistics processes on a daily basis. We are also proud to help dozens of logistics partners to optimise their operations. Our technology provides a 10x better user experience and more flexibility for customers, as well as higher productivity and more revenues for our warehousing and logistics partners.”
Faisal Butt, Founder and Managing Partner at Pi Labs, said: “Stockoss reflects our overall mission to invest in technology that will digitalise and decarbonise the built environment, particularly in logistics and distribution which is one of the fastest-growing segments in the sector. We are thrilled to be supporting Laurent and Franck as they execute their vision to leverage technology to automate operations and drive sustainable growth in logistics.”