{"id":142957,"date":"2024-10-23T11:01:10","date_gmt":"2024-10-23T09:01:10","guid":{"rendered":"https:\/\/www.startupbusiness.it\/traveltech-7-million-round-for-radical-storage\/142957\/"},"modified":"2024-10-23T12:37:06","modified_gmt":"2024-10-23T10:37:06","slug":"traveltech-7-million-round-for-radical-storage","status":"publish","type":"post","link":"https:\/\/www.startupbusiness.it\/en\/traveltech-7-million-round-for-radical-storage\/142957\/","title":{"rendered":"Traveltech, $7 million round for Radical Storage"},"content":{"rendered":"\n

Radical Storage, an online platform that allows travellers to temporarily store their luggage using the unused spaces of businesses around the world, announces that it has closed a $7m Series A round, part of which was raised through an equity crowdfunding campaign.<\/strong> The deal represents an important milestone for the company, which will now focus on accelerating the growth it started in 2021.<\/p>\n\n\n\n

The operation was led by CDP Venture Capital, through the Digital Transition Fund, financed by the NextGeneration EU and aimed at the digitisation of supply chains and SMEs, Azimut, through the Azimut Eltif Venture Capital – ALIcrowd III fund, and Opes Italia Sicaf, an impact investment fund with also the contribution of Mamacrowd, which managed the crowdfunding campaign that accounted for two of the seven million raised.<\/strong> Also participating in the operation were Finint Investments, together with its current partner Vertis, through the funds Vertis Venture 2 Scaleup and Vertis Venture 4 Scaleup Lazio. Radical Storage was supported by Growth Capital <\/strong> which acted as sole financial advisor to the transaction.<\/p>\n\n\n\n

The funds raised will be used to: accelerate the conversion of new shops, reaching 30,000 points by 2027; enhance marketing efforts to increase user acquisition and strengthen the brand; optimise the technology infrastructure, introducing new functionalities and improving data flow management; and diversify operations through the launch of new business lines that exploit synergies with the store network.<\/p>\n\n\n\n

With the rise in popularity of short-term rental platforms such as Airbnb, travellers often find themselves looking for convenient solutions for luggage storage before check-in or after check-out.<\/p>\n\n\n\n

In this context, Radical Storage is collaborating with commercial establishments, such as bars and restaurants, to offer a fully digital solution that allows luggage to be stored virtually anywhere. The company is set to revolutionise traditional storage options, often located in railway stations, by offering wider coverage, simplifying the booking process and providing extra services such as 24\/7 availability and luggage guarantee. At the same time, Radical Storage allows its partners to access a second source of income by exploiting unused space and expand its customer base by welcoming tourists. <\/p>\n\n\n\n

Currently, Radical Storage can count on a network of more than nine thousand storage points distributed in more than a thousand cities and 70 countries.<\/strong> “At Radical Storage, we believe in creating simple, impactful solutions that make travel more convenient for millions of people around the world. This funding will allow us to strengthen our commitment to our customers, expand our network and enhance our technology to offer even more flexibility and accessibility. We are excited not only to scale our operations globally, but also to support local operations, increasing shop traffic and creating new revenue opportunities. We are incredibly grateful to our investors, both old and new, who are giving us the right impetus to enter this new phase of growth,’ comments Alessandro Seina, CEO and co-founder of Radical Storage.<\/strong><\/p>\n\n\n\n

“Radical Storage has built a platform that meets the needs of an evolving market, growing very rapidly over time and developing a global network with local partners and handling millions of bags in more than 1,000 cities. Their ability to connect supply and demand through an innovative model represents an excellent opportunity for the digital transition in a rapidly expanding traveltech sector. We are confident that with the support of the Digital Transition Fund the team will further accelerate its international expansion,’ adds Agostino Scornajenchi, CEO and Managing Director of CDP Venture Capital.<\/strong><\/p>\n\n\n\n

“As Vertis, we are extremely proud to have supported Radical over the past four years, betting on the founders’ vision and ability to execute. As a long-term partner and shareholder, we have stood by Radical’s side through good and bad times, including the aftermath of the Covid-19 pandemic. By providing the necessary financial resources, we have demonstrated our confidence in their ability to scale despite the difficulties. Now the most exciting phase begins, with an ambitious investment plan over the next 18 months to stimulate international growth,” comments Amedeo Giurazza, founder, CEO and managing partner of Vertis.<\/strong> <\/p>\n\n\n\n

“As Growth Capital, we are proud to have supported Radical in its fundraising journey, a company that has shown steady growth through solid unit economics. We believe this Series A round will provide the company with the financial resources it needs to accelerate its international scale and establish itself as a global leader in its sector,” concludes Fabio Mondini de Focatiis, founding partner of Growth Capital<\/strong>. (photo by Caroline Selfors <\/a>on Unsplash<\/a><\/em>)<\/p>\n","protected":false},"excerpt":{"rendered":"

Start-up that innovates in the luggage storage sector receives funding from CDP VC Azimut, Opes Italia, Finint Investments, Vertis<\/p>\n","protected":false},"author":125,"featured_media":142955,"comment_status":"closed","ping_status":"open","sticky":true,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1317],"tags":[1143,1137,1136,1412,1145],"companies":[],"journalist":[1518],"class_list":["post-142957","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-funding-news","tag-investments","tag-italy-en","tag-startup-en-2","tag-traveltech-en","tag-venture-capital-en-2","journalist-editorial-staff-en"],"featured_sizes_urls":{"thumbnail":{"src":"https:\/\/www.startupbusiness.it\/wp-content\/uploads\/2024\/10\/caroline-selfors-r2jpr8MDw0I-unsplash.webp","width":113,"height":150,"crop":false,"srcset":false,"alt":"deposito bagagli"},"large":{"src":"https:\/\/www.startupbusiness.it\/wp-content\/uploads\/2024\/10\/caroline-selfors-r2jpr8MDw0I-unsplash.webp","width":768,"height":1024,"crop":false,"srcset":false,"alt":"deposito bagagli"},"2048x2048":{"src":"https:\/\/www.startupbusiness.it\/wp-content\/uploads\/2024\/10\/caroline-selfors-r2jpr8MDw0I-unsplash.webp","width":960,"height":1280,"crop":false,"srcset":false,"alt":"deposito bagagli"}},"acf":[],"yoast_head":"\nTraveltech, $7 million round for Radical Storage<\/title>\n<meta name=\"description\" content=\"Start-up that innovates in the luggage storage sector receives funding from CDP VC Azimut, Opes Italia, Finint Investments, Vertis\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.startupbusiness.it\/en\/traveltech-7-million-round-for-radical-storage\/142957\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta 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