Abu Dhabi's Mubadala Capital leads Huboo Fulfilment's $82mln funding round

Investment to help the logistics platform expand across Europe

  
A view of Mubadala Building in Abu Dhabi. Image used for illustrative purpose

A view of Mubadala Building in Abu Dhabi. Image used for illustrative purpose

Mubadala/ Handout via Zawya

Mubadala Capital, an asset management subsidiary of Abu Dhabi's sovereign investor Mubadala led a Series B funding round in Huboo Fulfilment, the UK-based logistics start-up, closing at $82 million in investments.

This investment will help drive Huboo’s expansion plans across continental Europe, Mubadala said on Twitter on Monday.

Huboo said in a statement it plans to roll out their first Spanish fulfilment centre in Madrid having already opened its first mainland European base in Eindhoven, The Netherlands.

The round led by Mubadala Capital was joined by existing investors including Stride, Ada Ventures, Hearst Ventures, Episode 1 and Maersk Growth. This takes Huboo’s total funding raised to nearly £80 million ($104 million) since April 2019.

"As more businesses move online, Huboo’s software enables e-commerce businesses of all sizes to manage and ship their inventory with a single tool, bringing flexibility, speed & affordability to the process," Mubadala said.

Huboo’s end-to-end order fulfillment service provides merchants with a full-stack solution that includes an intuitive and easy-to-use merchant platform integrating multiple online sales channels and markets, an in-house developed warehouse management software, and a network of warehouses split into highly efficient micro-hubs.

(Writing by Brinda Darasha; editing by Seban Scaria)

brinda.darasha@refinitiv.com

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