Maersk has invested €1.5 million in Portuguese technological startup HUUB, which operates in the supply chain of the fashion industry.
“The seal, sealed with Maersk, the world’s leading shipping company and one of the largest global groups in the field of logistics, with a turnover of $40 billion/year, represents the Danish multinational’s first investment in a Portuguese startup,” HUUB said in a statement.
The startup (a company with fast growth potential) in Portugal is the result of a €2.5 million investment by Pathena (Venture Capital Society) in 2018 and which was marked “by the high interest of several European investors.”
“We knew we were in an interesting position to negotiate further investment before the next round – Series A,” the HUUB CEO, Luís Roque, said.
“We were looking for what we call “smart money”, that is, ensuring that, in addition to financial capacity, our new partner could add value to the company.”
HUUB said that this new round closes the early-stage round, with a total of €4.35 million raised.
“This is one of the largest investments ever recorded in Portugal, and it represents more than double the North American average seed and four times the European average,” they said.