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Swedish logistics tech company has closed a 鈧�36 million financing round (approximately $39 million), boosting the business鈥� valuation to 鈧�100 million (approx $109 million). Swedish investor Creades and London-based credit specialist CORDET participated in the round.

Instabox handles logistics for e-commerce retailers, offering same-day delivery through its network of last-mile smart delivery lockers. The service reaches about six million Swedes, delivering from the likes of H&M, Ikea, and Lloyds. In a press release, the company claims its growth has more than tripled each year over the last few years.

The latest financing round consists of a new equity issuance of 鈧�5 million (approx. $5.4 million), the purchase of existing shares worth 鈧�9 million (approx. $9.7 million)and a credit facility of 鈧�23 million (approx. $25 million).

As for what鈥檚 next, co-founder and CEO Alexis Priftis explained: 鈥淲ith the new funds, we aim to radically increase the number of parcel lockers in Sweden from 400 to between 2000-3000. In addition, the new equity will enable us to expand our offering to more markets outside of Sweden.鈥�

Photo: Instabox founders Staffan Gabrielsson, Alexis Priftis and Johan Lundin