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SMART LUGGAGE PIONEER HORIZN STUDIOS RAISES £8.9M TO SUPPORT UK EXPANSION
Horizn Studios, the Berlin-based start-up spearheading Europe’s smart travel market, has secured €10m (£8,990,000) in Series B funding.
Joining the existing group of renowned investors are Milano Investment Partners and the Growth Fund of Project A Ventures. Vorwerk Ventures, Perpetual Investments, Astutia Ventures and US-based Tarsadia Investments are also, once again, on board. Since its launch in 2015, Horizn Studios has successfully raised over €25 Million (£22,472,000) through investment rounds.
The UK has been a core focus for Horizn Studios throughout 2018, it opened a debut pop-up store in London’s Soho, followed by a permanent flagship store in Shoreditch, East London. Partnerships with the esteemed hotel and private member’s club chain Soho House and the launch of Horizn GO, a personalised concierge service created in partnership with Quintessentially travel, has aided in the company’s expansion into the UK, witnessing a growth increase of 400%.
The new capital will aid Horizn as it continues to expand in the UK, as well as providing the investment needed to establish it in further additional markets. The Series B funding will also support future design and tech innovation, and the development of at least two new products to join s current range of smart luggage and accessories.
Stefan Holwe, Founder and CEO of Horizn Studios comments: “Sixty percent of our turnover today comes from European countries outside Germany. While we do sell worldwide, Great Britain will be a focus for 2019. The market for a digital ‘Nike of Travel’ is clearly massive. We are thrilled, both by the strong backing of such renowned investors, and the overwhelming feedback from our customers. It encourages us to continue to develop cutting-edge products and services for the next generation of travellers.”