An AP Moller-Maersk company seeking to build billion-dollar businesses has bought into Portuguese startup Huub in what was one of the biggest ever seed rounds in the country.
Huub, which offers end-to-end solution for fashion brands, has won awards as one of the hottest startups in Europe.
Tobias Elmquist, Partner at Maersk Growth, said in a statement: “We have been following Huub and were impressed with its solution to the supply chain for fashion brands and its fast growth both in terms of customers and revenue.
“Leveraging Maersk’s industry expertise and global network we look forward to supporting Huub’s plans to further accelerate business growth.
The investment is Maersk’s first ever play with a Portuguese startup.
Maersk Growth is an investment vehicle within AP Moller-Maersk which buys into transport and logistics startups.
It seeks to invest in the early stages of companies with the view to developing new billion dollar businesses, making use of the advantages of being part of the huge Danish group.
