Radical Storage raises €7 million to expand global luggage services
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Italian tech subscription service Radical Luggage has succeeded in attracting the last €7 million in what is classified as a series. A funding round, including €2 million from crowdfunding. The formula is familiar: use it to go global quickly and enhance the efficacy of the digital base of the company in question.
With the increasing number of tourists comes the emergence of digital travel technologies which will make the whole process of moving places to be simpler and more secure. Radical Storage, on its part, has grown because most of this growing movement does not like anything other than what is on their digital devices. This allows the company to move from one place to another whenever a need arises.
The €7 million has been obtained with a main objective of improving the companys brand across the globe, increasing customer growth and renovating the platform being used in the online commerce of the company. Also, this same amount will therefore be set aside to the organization that will undertake the storage operations with an attempt to raise the number worldwide.
Practically, Radical Storage operates also through a series of services that are all non-assets and are referred to as asset-light for the business model. In other words, they do not have to invest in that cumbersome business of building houses to store people’s luggage. Such a company opts to provide storage solutions through its partners, this grants it flexibility in terms of cost-sharing and consumption, and also, ease of convenience for its customers.
Radical Storage raises €7 million to expand global luggage services
Radical Luggage, the Italian company that deals with solving luggage storage issues online, has closed its series A funding round at €7 million successfully. The firm, which operates an app for travelers that locks luggage whilst traveling, is planning to take advantage of the new capital raised to the campaign of global expansion and upgrade of its existing systems. The sum was convertible into equity and institutional investors and ordinary members of the public demonstrated tremendous switched on interest where the Company did not have to struggle to attract such grand display.With the increasing number of tourists comes the emergence of digital travel technologies which will make the whole process of moving places to be simpler and more secure. Radical Storage, on its part, has grown because most of this growing movement does not like anything other than what is on their digital devices. This allows the company to move from one place to another whenever a need arises.
A sound plan for worldwide development
Libercom’s choice to source for additional capital now is informed by the company’s vision and strategy to offer its services beyond the domestic markets. Having built a solid network of storage locations across Europe, Asia, and North America, the company is now to extend its operations to span additional parts of the world and increase their activities in those parts already covered.The €7 million has been obtained with a main objective of improving the companys brand across the globe, increasing customer growth and renovating the platform being used in the online commerce of the company. Also, this same amount will therefore be set aside to the organization that will undertake the storage operations with an attempt to raise the number worldwide.
Practically, Radical Storage operates also through a series of services that are all non-assets and are referred to as asset-light for the business model. In other words, they do not have to invest in that cumbersome business of building houses to store people’s luggage. Such a company opts to provide storage solutions through its partners, this grants it flexibility in terms of cost-sharing and consumption, and also, ease of convenience for its customers.