France

[Funding alert] Paris-based Stockoss Raises €4 Million in Seed Funding

Nov 14, 2023 | By Startup Rise EU

Paris-based Stockoss raises €4 million in seed funding led by London-based VC Pi Labs. The investment represents a significant turning point in Stockoss' goal to enhance and expedite supply chain management for businesses.

Paris-based Stockoss raises €4 million in seed funding led by London-based VC Pi Labs. The investment represents a significant turning point in Stockoss' goal to enhance and expedite supply chain management for businesses.

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Along with providing independent logistics service providers (3PLs) access to its state-of-the-art equipment so they may maximise the utilisation of their current warehouse space. Kima Ventures, Global Brain, 50Partners, and Hartwood also contributed additional money.

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Laurent Bonnet, Founder and CEO at Stockoss, said: “Our aim has always been to use technology to simplify the relationship between a company and its logistics partners, whether it’s to improve day-to-day communication or increase visibility, traceability and transparency across the entire logistics value chain. We are proud that our platform enables hundreds of users to simplify and automate their logistics processes daily. We are also proud to help dozens of logistics partners to optimise their operations. Our technology provides a 10x better user experience and more flexibility for customers, as well as higher productivity and more revenues for our warehousing and logistics partners.”

A substantial amount of Europe's 35,000+ warehouse stock is owned by several, independent companies that are unable to satisfy the needs of today's logistics clients because of the market's fragmented, disconnected, and localised structure.

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By allowing owners to make more efficient use of already-existing space rather than having to develop additional inventory to satisfy demand, Stockoss offers a more sustainable path for the resiliency of the warehouse and logistics industry.

Faisal Butt, Founder and Managing Partner at Pi Labs, added: “Across Europe, 76% of all warehousing space is operated by SMEs, but much of this existing stock is unable to meet customer demands for more flexible, efficient, timely and cost-effective solutions for their storage and distribution needs. The way to sustainably meet growing demand is to use technology to upgrade the operations potential of Europe’s existing 35,000+ independent warehouses instead of building new stock. Stockoss reflects our overall mission to invest in technology that will digitalise and decarbonise the built environment, particularly in logistics and distribution which is one of the fastest-growing segments in the sector. We are thrilled to be supporting Laurent and Franck as they execute their vision to leverage technology to automate operations and drive sustainable growth in logistics.”

With growing environmental concerns and economic uncertainty, the logistics sector finds himself at a crossroads. The reshoring of warehouses due to Europe's reindustrialization has raised demand for more digitalized and sustainable supply chains.

Stockoss is in an ideal position to address these expectations and quicken the digital transformation of the logistics sector with its next-generation software.

About Stockoss

In order to meet the ever-increasing storage and distribution needs of clients like Stellantis, Netflix, and Jacquemus, Stockoss was founded in 2018 by Laurent Bonnet and Franck Nussbaumer. Stockoss provides 100% digitalized warehousing and logistics services across a rapidly expanding network of top-notch logistics and warehouse partners in multiple locations.

Read also - Amsterdam-based Eddytec Secures Funding to Identify Flaws in Carbon Fibre Composites

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