Maersk Invests in Its First Portuguese Startup

MaerskIllustration; Source: Pixabay under CC0 Creative Commons license

Shipping major Maersk has decided to invest in the technologic startup Huub, marking the first ever investment made by the Danish multinational company in a Portuguese startup.

Huub, that defines itself as a “360º brand accelerator”, announced the raise of the new investment round carried out by Maersk’s Corporate Venture unit Maersk Growth.

With this new round, the startup closes its early-stage investment cycle with a total of EUR 4.35 million, the biggest funding ever to be registered in Portugal. This represents more than the double average seed on the USA and surpasses the European average by four times, according to the company.

This recent capital will allow Huub to follow its strategic plan, that includes tripling the current number of brands, expanding European logistics operations and improving effectiveness and competitiveness, before the next investment round.

Through its integrated logistics platform, Huub manages end-to-end interactions from suppliers to final customers on both B2B and direct to consumer in over 125 markets.

HUUB foresees closing the year of 2019 with a revenue of EUR 3.5 million, which represents a growth of around 200% when comparing to the previous year.

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