Starship raises $100 million in last 30 days

As the autonomous transportation sector grows, Tallinn-based Starship Technologies has raised $100 million in the last 30 days to extend its capabilities in Europe and the United States.

The company will be able to extend its service and satisfy increased demand for its autonomous delivery service by launching in additional locations in North America and Europe thanks to a recent $42 million fundraising round led by the Japanese-Nordic VC firm NordicNinja and the Estonian powerhouse Taavet+Sten.

The latest investment, which includes a €50 million loan from the European Investment Bank (EIB), more than doubles Starship’s funding, bringing total funding to $202 million. TDK Ventures and Goodyear are among the other Series B investors.

With a CAGR of 20.4 percent, the autonomous delivery robot industry is expected to reach $55 billion by 2026.

“Everyone is talking about how to fix the issues with last-mile delivery. Starship’s autonomous driving technology for sidewalk delivery will lead to accumulating more and more data and experiences through much wider commercial operations,” said Shinichi Nikkuni, managing partner of NordicNinja VC.