Stowga raises investment money
The on-demand warehousing marketplace has raised £1.5 million in seed funding from leading investors Speedinvest, Anthemis and Force Over Mass.
Early investors Hambro Perks and Seedcamp also followed-on in the round bringing total raised to date to £1.8M. CBRE, the global real estate advisor has entered into a strategic relationship with Stowga. CBRE will be Stowga’s strategic real estate advisory partner and as part of the agreement, CBRE has made an equity investment in Stowga.
Stowga is out to ‘revolutionise the warehouse market’. It says warehouses are typically 25-30% under-utilised and Stowga’s warehousing as a service platform monetises that spare capacity by connecting them to customers who take the space without being tied into a long-term lease.
In 12 months, Stowga has built a network of over 4,000 warehouses in the UK and connected them to customers ranging from startups like Pi-Top to publicly traded international corporates like Natures Bounty, owner of Holland & Barrett. As well as storage, the platform also connects other logistics services such as transport and fulfillment as well as on-demand insurance and factoring.
The new injection of capital is intended to enhance development of the platform, and prepare for an international roll out.
