Smart parcel locker service Out Of Home Point Of Delivery (OOHPod) has raised €5.4m (US$5.9m) in new funding, bringing its total investment to date to €8.5m (US$9.3m).
This latest investment round was led by Business Venture Partners (BVP) through the 2022 BVP EII Fund and Themvar Holdings (Themvar). Stephen Burdock of BVP and Johnny Cosgrove of Themvar will join OOHPod’s board of directors. With the new funding, OOHPod plans to expand its footprint to 350 locations in Ireland, North and South, over the next two years.
The new funds will also be used to develop OOHPod’s self-service parcel locker network to launch in Great Britain, and to further develop the digital advertising offering on the OOHPod kiosks. Additionally, the company is set to create 10 new jobs in IT development, marketing and various operational roles. The company currently employs 12 people.
Launched in 2022 by John Tuohy following the sale of his Nightline courier business and its locker arm ParcelMotel, OOHPod parcel lockers have been designed with sustainability, convenience and security in mind. Shoppers can have their parcel delivered straight to an OOHPod locker, no matter who the delivery provider is.
Since launching in 2022, OOHPod has grown to over 100 self-service parcel lockers and a pipeline of over 500 sites located at retailers like Lidl and Tesco and independent outlets across Ireland and Northern Ireland.
John Tuohy, founder and CEO of OOHPod, said, “The investment marks a pivotal moment for OOHPod. It’s a testament to our team’s hard work and the innovative solution we’ve brought to the market. With this funding, we’re poised to significantly expand and improve our network across Ireland and Northern Ireland and prepare for our much-anticipated entry into Great Britain.”
“The support from our investors, including BVP, Themvar and others, is a huge vote of confidence in our vision to revolutionize the parcel delivery experience,” continued Tuohy. “We’re not just expanding our network. We’re redefining sustainability, convenience and security in parcel delivery.”
Stephen Burdock, executive director at BVP, said, “We believe in transforming through technology and OOHPod parcel lockers offer a sustainable first- and last-mile delivery solution that benefits all stakeholders in the supply chain. We have been impressed by the team and believe in the vision to redefine parcel delivery.”
Johnny Cosgrove, managing director of Themvar, said, “We are delighted to be investors in OOHPOD. It’s such a practical solution for a major delivery problem. It makes deliveries so much easier for the consumer, the retailer and the courier. John has a wealth of experience in the area, has assembled a great team and we are very excited to support them as they continue their Out Of Home Point Of Delivery (OOHPOD) network.”
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