The Montpellier startup optimizes the management of pallets after their use for merchandise. An ingenious idea that led to 2.5 M€ in funding.
Eliminating 690,000 km of truck tripsSince it launched the service, this rideshare company for pallets has met with real success.
“Over one million pallets have already been exchanged via our platform over the past year and a half,” explains Pierre-Édouard Robert. “Our solution has saved clients some 690,000 km of truck trips, the equivalent of avoiding about 600 tons of CO2 emissions, as it turns 500 km trips into 20 km trips.”
From VSEs to major distribution brandsTwenty months after it was founded, the young company now has over 160 clients, including major distributors such as Carrefour, Leroy Merlin, Système U, and more. According to forecasts, its sales revenue is expected to rise from 500,000 € in 2020 to 2 M€ in 2021. Since August, staff size has grown from 5 to 15 people.
Assisted by Montpellier BIC, Magic Pallet is undergoing exponential growth. To keep up with its expansion, the Solar Impulse approved company recently raised 2.5 M€ from Demeter, a fund specialized in sustainable development, along with Irdi Soridec Gestion, Qair Innovation, and Amba Invest. Bpifrance is providing a seed capital loan. Magic Pallet contributes to limiting deforestation, as exchanging pallets helps reduce the need for acquiring new pallets. Truly a solution with many virtues that is smart for the planet!
“We are going to continue hiring, notably sales representatives and application developers,” adds Pierre-Édouard Robert.