Paris-based Cubyn, an on-demand logistics startup, has received 12 million euros ($13.5 million) in an equity financing round led by UK early-stage venture capital firm DN Capital.
Cubyn noted that the round, which has brought its total financing to $22.6 million, also secured support from Partech Ventures, 360 Capital Partners, BNP Paribas Developpement and a new backer, BPI France.
With the new capital raised, the company intends to extend its operations with plans to hire 50 team members before the end of the year.
More so, Cubyn has partnered with refurbishment e-commerce platform Backmarket to launch Cubyn Fulfillment, which will enable merchants to consolidate their e-commerce inventory and begin to expand sales while monitoring the process from a single interface.