Estonian logistics startup Cleveron secures €3.5M from Nordic Secondary Fund

Tallinn-based logistics startup Cleveron has secured €3.5 million in an investment round led by the Danish Nordic Secondary Fund, Invest in Estonian reports concerning BalticVC. The investment will allow Cleveron to redefine the last-mile delivery experience through robotics-based parcel terminals.

• Founded in 2007 by Arno Kütt, Peep Kuld, and Indrek Oolup, Cleveron offers robotics-based parcel terminals and last-mile click-and-collect pickup solutions for rental and logistics sectors. Apart from hardware and software solutions, the company also offers global clients training, support, and both remote and on-site maintenance services.
• One of the company’s new solutions is Cleveron 501. It is a self-service automated pickup point that can be installed in various locations, taking the shop closer to the consumers. It includes freezer and regular climate zones, issuing orders within seconds, thus making the pickup fast and convenient for the end-user.

• Currently, Cleveron employs around 180 people and has major clients like Inditex/Zara, H&M, Falabella, UPS, and DHL. The deal with NSF will allow Cleveron to redefine the last-mile delivery experience through robotics-based parcel terminals and click-and-collect solutions.

In April 2023, Cleveron’s network of private parcel machines was acquired by Parcelsea, an Estonian parcel vending machine company. And in July 2023, one of Cleveron’s co-founders, Arno Kütt sold most of his shares in Cleveron.

About the investor

Nordic Secondary Fund (N2F) is a Danish fund established in 2018 by Peter Sandberg and Frank Lyhne Hansen. N2F buys secondaries (minority and non-public stakes) in Nordic and Baltic companies that completed series A. The firm invests from its €90 million second fund. Over its history, N2F has secured more than €140 million from 300 investors in the Nordic/Baltic region.