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Bristol-based ecommerce platform Huboo secures £29m

Huboo Image credit: Huboo

Huboo, a Bristol-based ecommerce fulfilment company, has raised £29m in an equity and debt funding round featuring HSBC and Blackrock.

Founded in 2017, Huboo’s ecommerce platform integrates with sales channels and marketplaces to outsource the fulfilment of products.

Huboo works with small merchants and SMEs as well as large-scale multinational sales brands with warehouses across Europe.

The company has worked with Premier League football team West Ham United FC to support its online merchandise sales channels.

“Our team has worked incredibly hard over the last 12 months to maintain our growth trajectory despite a poor macro-outlook for ecommerce, introducing new services, like introducing automation for enterprise clients, to enhance our customers’ experience and sustain our mission to revolutionise, simplify and transform ecommerce fulfilment,” said Huboo co-founder and CEO Martin Bysh.

In addition to lenders HSBC and Blackrock, Huboo secured follow-on investments from Ada Ventures and Maersk Growth.

“Never in my career in VC have I seen an investment opportunity with the scale prospects of Huboo. Ada Ventures invested in the first round, and every round since, because we saw the opportunity to mix state-of-the-art technology with operational know-how in a sector that had yet to be digitised,” said Ada Ventures partner Matt Penneycard.

The latest cash injection brings the total amount raised by the South West firm to £122m.

Huboo previously raised £14m in a funding round in 2020.

Read more: Regional tech report: Bristol and Bath