The multi-channel fulfillment platform Huboo secured €1 million in its seed round of funding. Episode 1 led the seed round, while Huboo declined to reveal the names of other investors. The debut funding round is expected to accelerate the growth of the company to bring in more e-commerce clients.
Founded by Martin Bysh and Paul Dodd in 2017, Huboo is a multi-channel fulfillment platform offering its services primarily to e-commerce companies.
The UK startup stores the products and ships it to the consumers when they place an order with the e-commerce company.
Huboo has a long list of portfolio clients ranging from small businesses to large e-commerce enterprises. The company fulfills and handles products like vitamins, headphones, antiques, CBD oils, coffee, among many others.
“We have clients that ship a couple of items a day and others that ship thousands. Items range in price for a few pounds to hundreds,” revealed Bysh regarding his clientele network.
The founding pair believes that outsourcing the fulfillment operations will allow the companies to focus more on key services such as choosing their portfolio products, customer service, and others.
According to Bysh, fulfillment business in the UK was largely fragmented that posed an opportunity of € 1 billion worth, more or less.
The startup powers its fulfillment operations through its proprietary technology and algorithms that are customized as per the requirements of individual users.
The UK startup allots a designated space in its warehouse for every client where the client can store his products. Each hub is governed by a hub manager who understands the needs of the clients.
Huboo houses the products free of cost for the first 2 months post which, it will charge its clients. If clients can clear out the stocks within 2 months and bring in new inventory, they don't have to pay for the storage.
The startup draws revenue from subscription and add-on services. The startup also plans to roll out new services as a way to increase its revenue.
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