TLT has delivered a further £14m investment for e-commerce fulfilment and storage company Huboo, as the pandemic triggers a rapid increase in online shopping.
The Series A funding sees European VC Stride and Hearst Ventures join previous investors Maersk Growth, Episode 1, Ada Ventures and True Capital and takes the total raised to £18 million.
Huboo was founded in Bristol in 2017, with clients including Carlsberg. Its software enables online retailers of all sizes to access a complete end-to-end fulfilment operation within minutes. The investment will be used to fund UK and European expansion and product innovation.
TLT’s full service digital team has been advising Huboo on legal matters since 2019, including real estate, share incentives and employment matters, alongside a £2.1m seed funding round from Episode 1 and further investments from Maersk Growth, Ada Ventures and True Capital.
The TLT team was led by partner Jon Gill alongside solicitor Matthew Howells.
Martin Bysh, co-founder of Huboo, says: "Not only has the global pandemic provided the catalyst for a mass shift into multi-channel commerce over the next five years, but there is a real direct-to-consumer revolution happening.
“This latest funding will help us to make the most of the opportunities this presents for our business in the UK and beyond, and as ever we are grateful to TLT for their expert advice and support in orchestrating this complex transaction.”
Jon Gill, partner at TLT, says: “It has been great seeing Huboo go from strength to strength and a pleasure to advise Martin, Paul, Peter and the rest of the team on this latest investment.
“The transaction demonstrates the appetite from global investors to support tech-enabled businesses that have both the ambition and traction to become leaders in their market, and the ability of both corporate VCs and traditional venture investors to work together to fuel that ambition.
“Huboo is an excellent example of the quality of scale-up businesses emerging from Bristol right now, and we look forward to supporting them as they progress on their journey.”