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Fine art shipping startup Convelio secures USD35m in Series B led by Forestay & Mundi Ventures

Convelio, a tech-led fine art shipping company, has raised USD35 million (EUR30 million) in a Series B funding round led by new investors Forestay, a UK and Switzerland based venture capital backers of Nexthink and Scandit, and Mundi Ventures, the international investment firm behind unicorns like Wefox, Bolttech, Klarna – and whose founder invested in unicorns like Skyscanner, Auto1 and Farfetch.

The European Investment Fund and existing investors Acton Capital and Global Founders Capital also participated in the round – the largest investment ever made into an arts logistics business globally.

Convelio enables auction houses, galleries and private art collectors all over the world to access the first instant quoting tool for competitively priced logistics services. As soon as a customer places an order, Convelio takes care of everything, from shipping to insurance, customs and real-time tracking.

The investment will support further development of Convelio’s logistics technology, customer service offering and sustainability strategy. Responding to increasing customer demand, Convelio will further expand headcount worldwide, with particular focus on the US – the startup’s largest market – where in 2022 the team will more than double from 30 to 70. 

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