News

September 19, 2022

Smart parcel startups Instabox and Budbee merge

The new company, Instabee, would be valued at €1.8bn


Mimi Billing

3 min read

Alexis Priftis, founder of smart locker startup Instabox, and Fredrik Hamilton, CEO and founder of Budbee

Swedish smart locker startups Instabox and Budbee plan to merge into a new business — Instabee — valued at €1.8bn. The merger is subject to customary approval from the Swedish Competition Authority — but it is likely to be accepted since even combined, the startups only have a small percentage of the overall market.

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Mimi Billing

Mimi Billing is Sifted's Europe editor, based in Stockholm. She covers the Nordics and can be found on X and LinkedIn

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