MagicPallet raises €2.5 M for the launch of its collaborative solution for exchanging Euro-pallets
MagicPallet has raised €2.5 M for the launch of its collaborative solution for exchanging Euro-pallets, reducing the environmental impact of road freight transport as a result.
MagicPallet is the first online Europallet exchange solution: from now on carriers, manufacturers and retailers will be able to exchange pallets where and when they need them. And all this in just a few clicks. This innovation will, for all those involved in the supply chain, mean an end to the unnecessary and costly journeys involved in relocating pallets: when carriers return pallets to shippers or when manufacturers and retailers move pallets from one site to another. MagicPallet will provide relief to the planet in two ways: by doing away with unnecessary journeys made when pallets are relocated, thus reducing carbon emissions; and by combatting deforestation by encouraging the use and reuse of a circular handling tool, the Europallet. The funds raised will enable MagicPallet to complete the operational and organizational stages: developing its digital platform to allow even more pallet exchanges and provide solutions to other pallet relocation problems; making its solution available to all those involved in the supply chain; promoting its solution worldwide and recruiting. The investor pool consists of Demeter, Irdi Soridec Gestion, Qair Innovation and AMBA Invest. BPIfrance grants a seed loan. Since its launch in December 2018 and having been awarded the FrenchTech label, MagicPallet has won several innovation awards and holds the international Solar Impulse Efficient Solutions label.
More information on the press release: Press release-MagicPallet