An ecommerce fulfilment business has raised $38 million as it hopes to take on Amazon with same-day delivery for retailers.
The raise for Skutopia led by Pemba Capital, with support from MA Financial and Blackpeak Growth Partners, and also includes debt.
Skutopia began life in 2018 as Sydney-based Workit Spaces – a coworking hub for ecommerce brands. The company pivoted to launch eCommerce software platform for online retailing during the Covid pandemic, going on to build warehousing and fulfilment centres in Sydney and Melbourne, managing picking, packing and shipping.
The business scored $900,000 in federal funding in mid-2021, and went on to raise $12 million, but the idea was rejected by venture capital fund, according to cofounder Talea Bader as “too complex”.
Skutopia plans to use the capital to expand its warehouse footprint in Australia as well as targeting the US market. The company hopes to cover 90% of the local market within 3 years.
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