German constructiontech startup Schüttflix raises $50m in additional financing, prepares to go international
After delivering more than 100,000 shipments in Germany, constructiontech startup Schüttflix announced it has raised $50 million of additional capital and is preparing to enter the Austrian, Polish and Czech markets in 2022.
The recently completed Series A financing round was led by Draper Esprit, one of Europe's most active venture capital investors. Also boosting their investments in this round are the founding team surrounding co-founding investor Thomas Hagedorn and CEO Christian Hülsewig, as well as HV Capital, Speedinvest and STRABAG.
Christoph Hornung, Investment Director, Draper Esprit: "Over 2.5 million tonnes of construction bulk-materials delivered since its founding shows that Schüttflix works. The startup has broken into a traditionally analogue market and is creating genuine added value for its customers with a truly digital solution. The business has grown by over 400% since January 2021; taking the platform international is therefore the next logical step, and we are pleased to be at Schüttflix's side."
Schüttflix will use the fresh capital to drive its planned entries into the Austrian, Polish and Czech markets in 2022. All three markets have great growth potential, are similarly structured, and are directly linked to the Schüttflix's existing network in Germany. The team is currently laying the technical, organisational and personnel-related foundations to enable its partners and customers in the new markets to efficiently access the platform. To develop the business in the new markets, Schüttflix will rely on the regional expertise of experienced country managers. In addition to business development, these managers will mainly focus on setting up country-specific customer service operations.
Christian Hülsewig, CEO and Co-founder, Schüttflix: "Following our successful expansion in the German market this year, now is the strategically right moment for us to grow in Europe. Government investment programmes, such as the Green Deal and the post-coronavirus recovery fund, will ensure that orders in the construction industry remain strong over the long term. European construction sites need a reliable and efficient supply. With Schüttflix, we have the solution. And with Draper Esprit, we have an experienced investor on board who will help us to establish this solution in as many European countries as possible."
In parallel to the international rollout, Schüttflix will continue developing digital products and services for all aspects of construction-site supply and waste disposal in the coming months. To make this possible, the B2B platform is relying on strong strategic partnerships, such as with STRABAG.
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