Gütersloh. The Lower Austrian investment company Wave-X - a WALTER GROUP company - is investing in the German logistics scale-up Schüttflix. After the current financing round of 45 million Euros, WaVe-X is participating in the 2nd closing of the Series A with some additional 2 million Euros and a wide range of expertise and network. Schüttflix has become known as a logistics hub for the construction industry with partners such as Hagedorn, Strabag, Goldbeck, investors such as SpeedInvest, HV Capital and Draper Esprit as well as its celebrity testimonials Sophia Thomalla and Lukas Podolski. Schüttflix is now one of the most successful scale-ups in the construction industry in Europe, with around 13,500 customers and partners and 27,000 users.
Ordering a truck with gravel to the construction site via app: Schüttflix makes this possible. Founded in 2018 in Gütersloh, Germany, the startup says it is "the first and only digital logistics platform that connects construction contractors, bulk material providers, freight forwarders and waste disposal companies." In doing so, Schüttflix acts as a digital marketplace, enabling its customers to buy or sell construction materials such as sand, gravel or crushed stone via app. In this way, the scale-up has consistently digitized a previously largely analog business. An interesting business concept that has also convinced the Austrian venture capital company WaVe-X to invest. The goal of this new partnership is, among other things, to further expand Schüttflix's market presence in Austria while driving growth, innovation and excellence in the construction logistics industry.
New capital for future growth
The latest Series A financing round in the amount of 45 million Euros was led by the founders and existing investors in August 2023. New on board as equity investors are the New York venture capital experts from FJ Labs, the construction company Goldbeck and various family offices. As part of the Extended Series A, WaVe-X, an investment company owned by WALTER GROUP, is now also making an investment. In addition, the company is providing further logistics expertise to support Schüttflix's future growth.
"We believe in Schüttflix's innovative business model and are very excited to embark on a great growth journey together and actively shape the future of construction logistics. This investment represents our largest investment to date and marks a significant milestone in our still young history as venture capital investors," Matthias Leibetseder, investment manager at WaVe-X, is pleased to say.
With WaVe-X on board, we are adding a strong partner to our investor base of logistics, construction, waste management and recycling companies." Together with WaVe-X and WALTER GROUP behind it, we will consistently continue our growth course, especially in the Austrian market, and set visible impulses in the digitalization of the construction industry," says Schüttflix CEO Christian Hülsewig.
With gravel to sales in the millions
Despite the current challenging construction economy and supply chain difficulties, the start-up is on a sustained growth path. In 2022, sales were around 90 million Euros. The platform now unites 13,500 customers and partners and around 27,000 users.
Growth in Austria
Since the beginning of May 2022, the digital bulk materials platform has also been available in Austria, Poland and the Czech Republic. With the clear goal of offering the leading logistics platform for construction sites in all three markets. This goal has already been achieved: Schüttflix has recorded strong growth in all three new markets since the beginning of this year. In Austria, more than 300 new partners were acquired in the first half of the year alone. More than 3,000 transports with almost 60,000 tons of material were handled for them. Sales already exceeded one million Euros before the end of the first half. The focus of activities is currently on the eastern half of the country, especially in the provinces of Vienna, Lower Austria, Burgenland, Upper Austria and Styria.
WaVe-X is an early-stage startup investor based in Austria and focused on logistics, mobility, construction and proptech across Europe. WaVe-X aims to foster the growth of portfolio companies through networking and domain expertise. More information: www.wave-x.vc.
About Schüttflix - The digital logistics hub for the construction industry
Schüttflix is the first digital logistics hub for the construction industry. The platform connects contractors, building material suppliers, waste disposal companies and freight forwarders with each other. With just a few clicks, contractors can compare prices in the app and order or dispose of bulk materials and transports directly. Instead of being regionally fragmented and untransparent, Schüttflix thus creates for the first time a functioning, efficient market for all common bulk materials in Germany, Austria, Poland and the Czech Republic. For its partner forwarders, Schüttflix enables optimized route planning, which leads to fewer empty runs and thus more sustainability. In addition, Schüttflix supports construction companies in optimizing and digitizing their processes with data for real-time analysis and digital documents (invoices, delivery bills, weighing documents). Founded in Germany in 2018, the company made a turnover of 90 million Euros in 2022 and currently has over 13,500 customers and partners on the platform.