Funding

Hive Technologies funding news – Operations platform Hive Technologies Secures €28.2 Million in Series A extension at an Increased Valuation.

Jun 25, 2024 | By Startup Rise EU

Berlin-based Operations platform Hive Technologies (Hive) secures €28.2 million in series A extension at an increased valuation. Hive, a 2020 startup, raises revenue by up to 24% while saving commerce businesses on average 17% in costs by integrating potent technology with a network of top operations suppliers.

Berlin-based Operations platform Hive Technologies secures €28.2 million in series A extension at an increased valuation. Hive, a 2020 startup, raises revenue by up to 24% while saving commerce businesses on average 17% in costs by integrating potent technology with a network of top operations suppliers.

SUMMARY

  • Berlin-based Operations platform Hive Technologies (Hive) secures €28.2 million in series A extension at an increased valuation.
  • Hive intends to use this additional capital to further speed expansion and product development with the goal of turning a profit the following year.

The platform of the organisation encompasses all aspects of the operational value chain, encompassing the fulfilment, delivery, and post-purchase experiences. Important characteristics consist of:

Order and inventory management across many channels.
shrewd choice of carrier.
Tools for personalisation.
An end-user tracking and return system.

By providing customers with an exact predicted delivery date in their online store, it's unique Warehouse Management System (WMS) and Transport Management System (TMS) allow companies to enhance their conversion rate by up to 30%.

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It has extended its reach into Germany, France, Italy, Spain, and the UK throughout the past two years. By selecting Tobias Eppler as Chief Growth Officer, Lukas Klinser as Chief Product Officer, and David Lagarde as Chief Operating Officer, it further bolstered its executive team.

Oskar Ziegler, co-founder and CEO said, “We see enormous potential to improve commerce operations for everyone, including brands, consumers, and our operational partners. This investment is a strong vote of confidence in our progress so far and the opportunity ahead of us. With this additional funding, we’re looking forward to creating more impact for even more brands across Europe.”

Earlybird Venture Capital, along with current investors Tiger Global, Picus Capital, alfa8, and others, preempted this investment round. Atempo Growth has contributed €10 million in venture debt to this round.‌

Tim Rehder, Partner at Earlybird said, “We’ve been truly impressed by Hive’s progress. Hive’s growth, customer feedback, technological maturity, and company leadership are unmatched in Europe and we look forward to the continued journey together.”

It intends to use this additional capital to further speed expansion and product development with the goal of turning a profit the following year.

About Hive

Hive skillfully blends powerful technology with a network of top operations suppliers, saving commerce brands up to 24% more income while cutting costs by 17% on average. Combined into one convenient app—the Hive App. Throughout Europe, it's ecosystem encompasses the entire chain of operations.

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