The Danish startup LuggageHero, which allows short-stay tourists to drop off their luggage at local shops, is eyeing massive expansion this year following significant investment.
Founded in Copenhagen by Jannik Lawaetz in 2016, LuggageHero swiftly gained popularity, and it is now seeking to take further steps in Europe and North America, thanks to investment of up to 10 million kroner – the vast majority put up by venture capital firm Nordic Eye.
“Nordic Eye, with a presence in our European headquarters and in California, is an ideal backer as we continue to scale our business globally,” Lawaetz told CPH POST.
“We’re excited to have them on board, as well as Vaekstfonden and Innovationsfonden. Above all, we’re looking forward to giving many more travellers convenient, safe and affordable luggage storage.”
LuggageHero currently operates over 300 luggage storage locations in Copenhagen, London and New York, and it is aiming to add an additional 1,700 locations in over 30 cities to its portfolio by 2020.
The first nine cities are already in the pipeline, with locations expected to be launched in San Francisco, Boston, Chicago, Montreal, Barcelona, Lisbon, Madrid, Paris and Rome this spring.
“LuggageHero has rapidly developed a leadership position in the competitive market for self-service luggage storage,” said Peter Warnoe, the CEO of investors Nordic Eye.
“We’ve been very impressed with their growth so far, and LuggageHero is exactly the kind of founder-led, nimble business that we like to invest in.”