IBI Corporate Finance (DC Advisory Ireland) has advised OOHPod on its €5.4m fundraise to build on its existing network across the island of Ireland. OOHPod, the innovative smart locker service, has raised €5.4 million in new funding, bringing its total investment to date to €8.5 million.
This latest round of investment was led by Business Venture Partners (BVP) and Themvar Holdings UC (Themvar). Several high-net-worth individuals also participated.
The new funds will primarily be used to develop OOHPod’s self-service parcel locker network in Ireland and Northern Ireland and launch in Great Britain, and to further develop the digital advertising offering on the OOHPod kiosks.
Additionally, the company is set to create 10 new jobs in IT development, marketing, and various operational roles. The company currently employs 12 people.
Launched in 2022 by John Tuohy following the sale of his Nightline courier business and its locker arm ParcelMotel, OOHPod parcel lockers are designed with sustainability, convenience, and security in mind. Unlike other locker providers, shoppers can have their parcel delivered straight to an OOHPod locker, no matter who the delivery provider is.
John Tuohy, founder and CEO of OOHPod, said the investment marks a pivotal moment for OOHPod: “It’s a testament to our team’s hard work and the innovative solution we’ve brought to the market. With this funding, we’re poised to significantly expand and improve our network across Ireland and Northern Ireland and prepare for our much-anticipated entry into Great Britain. .”
Since launching in 2022, OOHPod has rapidly grown, currently boasting over 100 self-service parcel lockers and a pipeline of over 500 sites located at key retailers like Lidl, Tesco, and leading independent outlets across Ireland and Northern Ireland.
“The support from our investors, including BVP, Themvar, and others, is a huge vote of confidence in our vision to revolutionise the parcel delivery experience,” said Mr Tuohy. “We’re not just expanding our network; we’re redefining sustainability, convenience, and security in parcel delivery.”
With the new funding, OOHPod plans to expand its footprint to 350 locations in Ireland over the next two years.
Johnny Cosgrove, CEO of Themvar said, “We are delighted to be investors in OOHPOD. It’s such a practical solution for a major delivery problem. It’s makes deliveries so much easier for the consumer, the retailer, and the courier. John has a wealth of experience in the area, has assembled a great team and we are very excited to support them as they continue their Out Of Home Point Of Delivery ‘OOHPOD’ network.”
“The hard work and dedication shown by Michael Murray and Ben Murphy at DC Advisory to get this deal over the line was immense, and we really appreciate the team you going the extra mile to ensure we achieved our goals for this fundraise.”
— John Tuohy, Founder and CEO, OOHPod
“The OOHPod team are ambitious for the future of their business and wanted to partner with investors that shared their vison. A carefully managed process achieved the shareholders objectives and builds on the success DC Advisory has had in the logistics and infrastructure sectors”
— Michael Murray, Associate Director, DC Advisory Ireland