South West Business Insider May 2022

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amazing trip

It’s not often you feel like pinching yourself when interviewing someone, but it happened to me this month.

Our cover story for this issue focuses on the dramatic rise of fulfillment company Huboo, which assists e-merchants with their orders by taking care of storing, picking and packing items. It sounds like a fairly ordinary proposition, and in a way it is, but the company this opportunity has fostered is anything but.

When I met Martin Bysh, one of the two co-founders, I expected a good interview, and got it in spades, but the expected speed of growth and the funding needed to make it happen are of an order that I have never seen anyone sit on the other side of the table and guide me casually. (And Bysh was indeed quite flippant about it.)

From a standing start at the end of 2017, the company took root relatively slowly over the next two years – but I mean relatively. Bysh and co-founder Paul Dodd still needed and managed to raise £1m in September 2019 which was of course a major stepping stone at the time.

But that was just the beginning, as it turns out. A year later, with another funding round in between, Huboo’s Series A raise was £14m. And then in October 2021 he raised a further £60m, plus £25m in debt to tide him over. And the next round of funding? It’s set for £200million, more or less – and possibly as soon as next year.

It’s quite a journey, although big upfront expenses for a business aren’t always a guarantee of stratospheric revenue and profits later. It will be fascinating to see how Huboo’s journey unfolds from here, but for now, I urge you to turn to page four and read on.

Our May issue is also packed with great content on sustainability, the workplace and supporting employee wellbeing – as well as the second half of our 42 under 42 cohort. Enjoy.

Christian Annesley, editor
@ChrisA_Insider

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