Hive Technologies receives investment of 29 million euros

The start-up intends to use the money to expand geographically. It will start with the French capital Paris at the beginning of 2022.

The Berlin-based start-up Hive, which specializes in e-commerce logistics, has announced that it has received investments of 29 million euros as part of a Series A financing round. The company claims to have been valued at 135 million euros. In addition to the existing investors Earlybird and Picus, the US investor firms Activant and Tiger Global Management from the USA are also joining in. Hive offers software and operational services designed to help brands that deliver directly to customers simplify their processes from procurement to delivery.

Hive intends to use the capital raised to expand geographically. It will start with Paris at the beginning of next year. "With Hive, we are already the partner for all operational issues. We help (...) to focus on their product instead of dealing with customs regulations and returns. The new capital gives us the opportunity to invest further in our software and build a pan-European offering for customers," says co-founder Franz Purucker. Co-founder Oskar Ziegler adds: "D2C brands and thus the need for scalable D2C processes are the future. Our investors see the growth of the market."

The third co-founder in the group is Leo von Kleist. Since July 2020, Hive has set itself the goal of transforming operational D2C commerce. The team, which now has over 100 members, started out with its own fulfillment center to store products and process orders. D2C operations are now also part of the offering: an app offers functions such as analysis and automation.