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PORTO, Portugal: May 27, 2019. Logistics incubator Maersk Growth, part of A.P. Moller-Maersk, has invested US$1.5 million in fashion logistics startup HUUB, following an initial €2.5 investment from Portuguese venture capital company Pathena last year.

HUUB’s platform integrates with e-commerce sites to provide production follow-up, picking, storage, stock management, order fulfillment, packing, and shipping. The company’s algorithms also analyse sales to prevent understocking.

HUUB staff “We were looking for ‘smart money’ that means we wanted to ensure that, besides having the financial capabilities, our new partner could also bring value to the company,” said co-founder and CEO Luis Roque. “Maersk Growth undoubtedly represents the biggest player in this industry, and we are sure that they will continue to be a fundamental partner in HUUB’s growth.”

With the new funding, HUUB says it plans to triple the number of brands in its portfolio, expand its European logistics operations and hire more employees to further develop its commercial strategies and technology.

“We have been following HUUB and were impressed with its solution to the supply chain for fashion brands and its fast growth both in terms of customers and revenue,” said Maersk Growth partner Tobias Elmquist. “Leveraging Maersk’s industry expertise and global network we look forward to supporting HUUBs plans to further accelerate business growth.”

HUUB plans to close 2019 with a revenue of €3.5 million, a growth of around 200 percent year-on-year. The startup has also seen a 47 percent increase in brands in the first half of the year over the whole of 2018.

“Ever since we lead last year’s investment round, we knew that there would be an opportunity to strengthen this seed with a relevant strategic partner,” said Vítor Dinis, managing partner and CFO of Pathena. “Maersk Growth is exactly that player, which not only brings financial support but also the global structure needed to accompany HUUB’s global growth.”

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