Parcellab raises $110 million

The money comes from existing investors, with a new venture capitalist from the USA also joining in. The Munich-based start-up Parcellab is thus continuing its expansion, with co-founder Buxhoidt even relocating to New York.

The Munich-based start-up Parcellab is continuing its expansion. In a recent financing round, it raised 110 million US dollars; in addition to existing investors such as VC Capnamic Ventures, the American venture capitalist Insight is also an investor. Parcellab only opened an office in New York in 2020. Co-founder Tobias Buxhoidt wants to spend a few months on the other side of the Atlantic to support the process and expand the office. The office may also move to Boston because it would be easier to attract tech talent there, Buxhoidt told founders scene.

In addition to the expansion, Buxhoidt also talks about a possible IPO, which would be accelerated by the new investor Insight: "An IPO would be ideal, as a sale is not an option for us," he tells the Handelsblatt.

The Munich-based start-up offers shipment tracking technology for individual companies and online stores, allowing customers to see exactly where their parcel is at any given time. Ikea, Lidl and Media Markt, for example, use this technology.