15th September 2021 – With the acquisition, the Company and its investors accomplish a very important goal achieved by few startups: to reach an exit. The sale value was not disclosed.
HUUB, a tech startup operating in the fashion supply chain industry, has just announced it was acquired by A.P. Moller – Maersk (Maersk). The deal represents the first Portuguese startup acquisition of the worldwide leader of ocean & logistics, with reported revenue of around 33 billion euros in 2020.
For the Company CEO Tiago Paiva, that will lead the business unit, the deal responds to the startup goals. “Since day one that HUUB has two main purposes: disruption and scale. Disruption to have the capacity – and audacity – to say that a multi-billion-dollar industry needs a digital revolution and to envision and create a revolutionary supply chain platform and ecosystem. Then there is the scale that allows disruption to occur, feeding it with the volumes that can make a difference. For HUUB, this joint path that now starts with Maersk represents both. First, the validation of our disruptive vision and product. And second, Maersk is the scale enabler that will allow our platform to serve amazing customers and lead the eCommerce logistics market.”
The co-founder is “proud and grateful to everyone that was a part of the journey for the past six years” and believes “the acquisition from such a powerful company like Maersk” – recently highlighted in Time’s 100 Most Influential Companies – is a “tonic for the startup ecosystem in Portugal”.
Maersk is investing in the eCommerce industry and has announced the acquisition of two other companies in the sector. Vincent Clerc, Executive Vice President, and CEO Ocean & Logistics, A.P. Moller – Maersk, is excited with the technological evolution granted by the acquisition. “HUUB is the exact right mix for Maersk, a curious team with inspiring founders. With we are acquiring world-class tech talent; their know-how and experience will enable us to provide an exceptional technology e-cloud platform for Omni-channel products. This will make it much easier for our customers to focus on their core business of producing and selling goods and swiftly bring them to the end-consumers” highlights Vincent Clerc.
With HUUB’s acquisition, Maersk enables the opportunity to make Portugal a strategic tech hub, to attract the best talent, and compete with other big companies.
About A.P. Moller – Maersk.
A.P. Moller – Maersk is an integrated container logistics company working to connect and simplify its customers’ supply chains. As a major, global player in shipping services, the company operates in 130 countries and employs approximately 80,000 people.
HUUB is a Portuguese tech start-up founded in 2015 that proposes a fully digital, end-to-end, and omnichannel experience of the supply chain with a particular focus on the fashion industry. Its tech data-driven approach combined with a simplified SaaS business model represents an innovative perspective towards a Logistics as a Service (LaaS) model.
HUUB has been managing the physical collections and data flows of over 100 fashion brands. From inbound to final delivery and returns, HUUB’s tech platform Spoke enables the entire journey. The platform manages the fundamentals of a logistics operation at the same time it connects and communicates with the other business parties like online stores (e.g. Shopify) and ERP systems. Its plug & play solution fastens a client’s onboarding from months to weeks and transforms manual labor into automated and real-time access and resolution.
As an orchestrator of all the relevant stakeholders of a supply chain, HUUB promotes an ecosystem where suppliers meet brands and brands meet clients in a single source of truth.