Fulfillment platform Byrd raises €53.1 million
Austrian fulfillment company Byrd has raised 53.07 million euros in a Series C funding round. The company will use the capital injection to offer next-day delivery within Europe. It is currently active in seven European markets and will expand into three more.
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Byrd was founded in 2016 in Austria. It provides fulfillment services to online sellers across Europe. In July last year, the company raised 16 million euros to accelerate its international expansion. With the capital injection, it opened fulfillment centers in Italy and Spain.
‘The company has a total warehouse capacity of almost 450.000 m².’
According to the company, it has doubled its average revenue per customer since its last funding round. Additionally, its total warehouse capacity has almost tripled to almost 450.000 square meters. Now, the company announces that it has raised 53.07 million euros in a Series C round, which was led by Cambridge Capital.
Next-day delivery in Europe
The investment allows the company to add new features to the platform. In doing so, it wants to help retailers in offering next-day delivery to European customers. “Online retailers are under pressure from consumers to deliver as fast as possible, without charging for shipping. At the same time, the global supply chain crunch is putting pressure on margins and creating delivery issues”, said Alexander Leichter, CEO of Byrd.
‘It is the right time for us to speed up our growth plans.’
“Retailers must look for scalable fulfillment services that cover their core markets globally. When we were approached by Cambridge Capital, we decided that it was the right time to combine our significant momentum in the last year with their expertise in tech-enabled logistics investments to speed up our growth plans.”
Product and geographical expansion
In addition to product enhancement, the company is also planning to launch support for Amazon’s Seller Fulfilled Prime program, allowing it to tap into the market of successful Amazon sellers looking for an alternative to FBA. It will also add new integrations with ecommerce software, ERP systems and order management software.
‘Byrd is launching in Sweden, Denmark and Poland later this year.’
The company wants to strengthen its presence in existing markets by expanding its local teams in the UK, France, Germany, the Netherlands, Austria, Italy and Spain. It has plans to launch in Sweden, Denmark and Poland this year. This will result in more than 30 warehouse locations in across 10 European countries.