We know Estonia
8.3.2022 | Shopping

Starship received 88 million euros in funding

Text Timo Huttunen
Photo Starship Technologies

Starship received 88 million euros in funding

 

Package robot company Starship announced last week that it has raised $100 million in new funding over the past month. At the end of January, the company announced that it had received a 50 million euro loan from the European Investment Bank. Additional funding of 38 million euros was raised through an investment round for investors.

Starship Technologies was founded in 2014 by Estonians Ahti Heinla and Janus Friis. Starship parcel robots carry food and parcels. In addition to Tallinn, the company’s robots operate in several American cities, among other places around the world.

With the funding now received, Starship Technologies plans to expand into new cities in Europe and North America. The company also plans to double its staff and recruit nearly 800 new employees this year.

The previous major investment round in the company was in 2019, when Starship Technologies raised 36 million euros. About 50 per cent of the company’s ownership is held by Estonian investors.

According to research firm Facts & Factors, the market for parcel robots will grow by about 20 per cent a year for the next five years. By 2026, the value of the parcel robot market is estimated to be worth about $55 billion a year.

 

To learn more about this and similar topics
Business Estonia Parcel Robot Robot Robot Estonia Starship Starship Delivery Robots Starship Robots Starship Technologies

22.6.2022 | Shopping

T1 Mall to receive €16 million renovation 

T1 Mall to receive €16 million renovation 

T1 Mall in Tallinn will undergo renovations costing 16 million euros. These renovations will see the outer façade changed, … Read more

21.6.2022 | Shopping

25% more e-shops in Estonia than before the pandemic

25% more e-shops in Estonia than before the pandemic

According to the Estonian E-Commerce Association, there were around 6000 online stores operating in Estonia before the pandemic. Today, … Read more

20.6.2022 | Shopping

All Prisma supermarkets to be open 24/7 before Midsummer

All Prisma supermarkets to be open 24/7 before Midsummer

Between June 20 and 23 all Prisma supermarkets in Estonia will be open 24 hours a day. This will … Read more

13.6.2022 | Shopping

camera icon7
Summer fashion is full of bright tones and pastel dreams

Summer fashion is full of bright tones and pastel dreams

It’s time to get rid of the quilted jacket and rejoice in the colours and playful patterns the warmer … Read more

11.6.2022 | Shopping

Vivian Vau encourages women to use colours boldly

Vivian Vau encourages women to use colours boldly

The queen of the shoe world Vivian Unt, the creator of the Vivian Vau brand, gets her inspiration from … Read more

8.6.2022 | Shopping

Prices for goods and services have risen by 20% in the past year

Prices for goods and services have risen by 20% in the past year

According to the latest data from Statistics Estonia, the consumer price index rose by 20 per cent compared to … Read more

7.6.2022 | Shopping

Stylist Ženja Fokin on having his dream job – “I create stories with clothes”

Stylist Ženja Fokin on having his dream job – “I create stories with clothes”

The Baltic Guide: What gave you a boost towards the fashion world? Ženja Fokin: My journey into the world … Read more

3.5.2022 | Shopping

Inflation in Estonia highest in the Eurozone

Inflation in Estonia highest in the Eurozone

According to Eurostat, the EU’s official statistical office, annual inflation in Estonia was 19% in March. This was the … Read more