Online commerce startups are thriving
Greek startups in the e-commerce sector have attracted the interest of major investors amid the pandemic, drawing significant funding or being acquired by Greek or foreign peers.
The year has started off on a good note for many of them, benefiting from the changes the coronavirus has brought to consumer behavior, along with the strengthening of online commerce. About a week ago, Instabox, founded by Alexis Priftis, secured financing of 75 million euros in its Series B round of funding led by EQT Ventures. The Stockholm-based company has created an innovative network of smart lockers where the recipients can pick up goods they have ordered. The company has also introduced a network for delivering parcels to consumers’ homes, as well as the Instabike service.
Instashop, founded in Dubai by John Tsioris and Ioanna Angelidaki, has experienced rapid growth during the pandemic. This is an online order app for pharmaceuticals, cosmetics, pet products etc from local stores. The app, which is now available in Thessaloniki too, has attracted the interest of Germany’s Delivery Hero, leading to a takeover deal in August 2020 worth $360 million.
Meanwhile, online retail platform Skroutz has announced its entry into the courier market with the acquisition of last-mile startup SendX a few days ago, creating its own delivery network.
Source: ekathimerini.com