Everstox: Revolutionizing Logistics with AI and Modular Software
Executive Summary
In this episode Boris Bösch, Co-Founder & Co-CEO of everstox, delves into the intricacies of logistics and how their company tackles these challenges through a modular, AI-enhanced software platform. Everstox collaborates with leading carriers and specializes in various logistics services across Europe and the US, aiming to improve inventory management and customer satisfaction. With substantial funding and plans for further expansion, Boris highlights the significance of data integration in logistics and their asset-light approach. Listeners are encouraged to explore job opportunities and learn more about everstox’s innovative solutions online.
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Asset-Light Business Models in Tech**: “I think in terms of being asset light and asset light, to explain it a little bit, means, obviously, we don’t own operations ourselves. So the same way that Flix doesn’t operate their own buses and is not owning buses, but, working hand in hand in partnerships with bus operators. We bring a similar approach to logistics where we really focus on great technology, great software, and work hand in hand with very established and experienced logistics providers and kind of create a win win and the best of both worlds in the end for our customers, which are modern brands in ecommerce and omnichannel, that then kind of get the best of both worlds in software and technology from Everstox plus fully integrated operational services from our partner network, of very strong and experienced logistics providers that we select with a lot of care and that we work very closely together with.” — Boris Bösch | Co-Founder & Co-CEO at everstox
Introduction
Welcome to this episode of Startuprad.io, where we dive into the innovative world of logistics with Boris Bösch, Co-Founder and Co-CEO of Everstox. Today, Boris shares his journey from consulting at BCG to revolutionizing logistics through technology and partnerships. We’ll explore how Everstox utilizes smart software solutions and artificial intelligence to enhance batch tracking, inventory management, and return processes, aiming to perfect the software layer crucial for AI integration in logistics. Discover Everstox’s collaboration with giants like DHL and UPS, and learn about their asset-light approach that mirrors the operational strategies of contemporary successes like Flix and Uber. Boris also discusses the company’s international expansion, particularly into major markets in Europe and the US, and what the future holds, including potential Series B funding in 2025. So tune in as we unpack the complexities of modern logistics with an expert intent on creating efficient, customer-centric supply chain solutions.
**Navigating E-commerce Challenges**: “We see a very complex jungle.” — Boris Bösch | Co-Founder & Co-CEO at everstox
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Navigating E-commerce Complexities: “It’s a very complex supply chain that is behind that. And this very complex supply chain needs to be solved by every ecommerce company on their own.” — Boris Bösch | Co-Founder & Co-CEO at everstox
Questions Discussed in the Interview
- Can you explain the decision-making process that led to the adoption of AI technology in Everstox’s logistics model?
- How does Everstox ensure high customer satisfaction while dealing with the complexities of logistics in various international markets?
- What are the specific challenges you face when expanding logistics operations into new markets like the US, and how do you overcome them?
- Boris, you mentioned a modular software approach. Could you elaborate on how this flexibility benefits your clients in different industries?
- Can you discuss the strategic importance of choosing strong logistics partners and how they fit into Everstox’s overall business model?
- What role do you see AI playing in the future of logistics and inventory management, and how is Everstox preparing to integrate further advancements?
- You’ve mentioned international expansion and a strong presence in the UK and the US. What strategic moves are necessary for thriving in these competitive markets?
- Boris, moving from BCG to starting your own company must have been significant. What was the biggest lesson you learned during this transition?
- Funding seems to be a pivotal aspect of Everstox’s growth strategy. What are you looking for in a potential investor for the upcoming Series B round in 2025?
- Lastly, given your international experiences and global perspective, how do these insights shape the cultural approach of Everstox within diverse markets?
Global Expansion with Everstox: “And I think scaling your business, get in in ecommerce, scaling your operations, scaling your logistics without Everstox is a very, very complex road, to go down, because you would work with a lot of different providers. Shipments get very costly when you cross borders and so on and so forth.” — Boris Bösch | Co-Founder & Co-CEO at everstox
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**Navigating Logistics Challenges in Diverse Markets**: “So also over there, we have multiple fulfillment locations, where we can cover, the whole nation very fast and very efficiently in terms of delivery.” — Boris Bösch | Co-Founder & Co-CEO at everstox
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The Founder
Boris Bösch (https://www.linkedin.com/in/borisboesch/) is the co-founder and co-CEO of everstox, a company that is revolutionizing the logistics sector through technology-driven solutions. From the outset, Boris drew inspiration from pioneering companies like Flix and Uber, admiring their asset-light business models. With this framework in mind, he helped shape everstox to focus on robust software development and strategic partnerships with seasoned logistics providers. Under Boris’s leadership, everstox has crafted a unique niche catering to modern e-commerce and omnichannel brands. The company leverages high-quality software and fully integrated operational services to offer customers a perfect blend of efficiency and dependability. Boris’s vision emphasizes the deeper value of software in logistics, extending beyond mere transaction facilitation to truly enhancing the efficiency and effectiveness of supply chain operations.
Innovative Logistics Solutions: “Logistics is never easy for anyone. I think that’s what I also love about building Everstox because you actually always have customers with a problem, because logistics is complex. And if we do a great job and we solve those complexities, we can actually do a lot for our clients.” — Boris Bösch | Co-Founder & Co-CEO at everstox
The Startup
We delve into the journey of Everstox (https://everstox.com/), a logistics and tech company co-founded by Boris Bösch. Everstox has made significant strides in the logistics industry by offering a platform that revolutionizes how ecommerce businesses manage inventory, warehousing, and delivery services. The company raised $23,000,000 through its Series A in 2022 and is eyeing a Series B in 2025, reflecting a robust growth trajectory and investor confidence. Their distinctive approach combines an asset-light model with powerful software, optimizing logistics operations across Europe and recently expanding into the U.S., thus enabling seamless international operations and scalability which are key attractions for both customers and investors.
What sets Everstox apart in the highly competitive logistics market is its modular software solution tailored to smart batch tracking, return management, and AI-driven forecasting and inventory planning. This technology allows clients to maintain high efficiency while ensuring tailored customer experiences in various industries such as apparel, beauty, and consumer goods. Furthermore, their partnerships with leading logistic providers like DHL, UPS, and FedEx, enable them to offer reliable and efficient delivery services. Everstox’s focus on AI and data integration not only positions them at the forefront of logistic innovation but also aligns with future trends, setting the stage for continued growth and market leadership.
Innovations in E-commerce and Logistics: “We are still doing that with a research function as of today.” — Boris Bösch | Co-Founder & Co-CEO at everstox
Venture Capital Funding
everstox has raised to this day 23 Million € until Series A. They announce in our interview their intention to raise Series B funding in 2025.
Investors include
- Rocket Internet
- Flash Ventures
- Global Founders Capital
- Capnamic Ventures
- Acton Capital
**Innovations in Global Logistics**: “There’s also some innovation happening in the space, and we are always adding new partners that might deliver a bit more sustainably and so on to our solution and to our network, but we work with the core ones.” — Boris Bösch | Co-Founder & Co-CEO at everstox
Hiring!
everstox is hiring. Have a look at their career website
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The Interviewer
This interview was conducted by Jörn “Joe” Menninger, startup scout, founder, and host of Startuprad.io. Reach out to him:
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Automated Transcript
Narrator [00:00:05]:
Welcome to Startupradio rad dot io, your podcast and YouTube blog covering the German Startupradio with news, interviews, and live events.
Jörn “Joe” Menninger [00:00:20]:
Hello, and welcome, everybody. This is Joe from Startupradio dot I Joe welcoming you to another episode here on start up rate dot io. I would like to welcome Boris, from every stocks here with me. Hey, Boris. How are you doing?
Boris Bösch | Co-Founder & Co-CEO at everstox [00:00:36]:
Hey, Joe. I’m doing very fine. Happy to be here.
Jörn “Joe” Menninger [00:00:39]:
It’s totally my pleasure. We may add that we are recording this interview shortly before the publication date, which is a Thursday here in Germany, which is also a public holiday. And it’s also Father’s Day celebrated here in Germany. So happy Father’s Day to all the fathers out there. And if you’re curious, the next Sunday is Mother’s Day. Also, happy Mother’s Day to all the mothers out there.
Boris Bösch | Co-Founder & Co-CEO at everstox [00:01:07]:
Also from my side, of course, happy days and all the best to all fathers and mothers out there. And in case my parents, will listen to this, Udo and Sonja, best wishes also to you.
Jörn “Joe” Menninger [00:01:19]:
Yes. And and and everybody who’s listening to this outside of Germany should know that this is a holiday in Germany, not for all states, but nonetheless, not everybody would pick up your, the phone or reply to your emails in time at that day. Let me quickly check. It’s called in English, feast of a session. Okay. Here we go. Now that we got that out of the way, Boris, let’s talk a little bit about you and, what you’ve done before before you founded Everstox. May we say that is something that is something you could say follows an asset light approach.
Jörn “Joe” Menninger [00:02:09]:
Would you agree something like the Flix or Uber of logistics?
Boris Bösch | Co-Founder & Co-CEO at everstox [00:02:14]:
Yes. It’s, it’s a very fair comparison, especially because I think Flix and Uber are both amazing companies and amazing founders behind that I very much look up to. So it’s a comparison that I like to hear. I think in terms of being asset light and asset light, to explain it a little bit, means, obviously, we don’t own operations ourselves. So the same way that Flix doesn’t operate their own buses and is not owning buses, but, working hand in hand in partnerships with bus operators. We bring a similar approach to logistics where we really focus on great technology, great software, and work hand in hand with very established and experienced logistics providers and kind of create a win win and the best of both worlds in the end for our customers, which are modern brands in ecommerce and omnichannel, that then kind of get the best of both worlds in software and technology from Everstox plus fully integrated operational services from our partner network, of very strong and experienced logistics providers that we select with a lot of care and that we work very closely together with. I I think one differentiation that I would like to take is that in our market, I think the value of software goes much deeper. I think many platforms like Uber or Flix, you mainly think about them in terms of making transactions, so booking your ride or kind of booking a seat in a bus.
Boris Bösch | Co-Founder & Co-CEO at everstox [00:03:41]:
In terms of Everstox, on the software side, we built much more of an operating system where we really manage all your orders, all your inventory, very complex processes. So I think the software component of Everstox is is a bit more difficult and at the same time creating a bit more value, than than other models.
Jörn “Joe” Menninger [00:04:00]:
You have gotten a little bit ahead of me here, but it was a great teaser. Let’s get started. Where you got started, you study not too far away from here, from Frankfurt at University of Mannheim. And actually, you also studied at University of Miami. And in the background of my vibe, there’s welcome to Miami, the song played. Can you first tell us a little bit about what you’ve been doing there? And, then we can go on through your CV and end up at founding cofounding Everstox.
Boris Bösch | Co-Founder & Co-CEO at everstox [00:04:37]:
Yes. I’m very happy to do so and, sorry for getting ahead a little bit. Sometimes I can when when I talk about Everest Stocks and I get too excited, then then I keep talking. Yes, indeed. I I grew up in Freiburg then first moved to Mannheim for my university studies. So, not too far from home first, but then, I think, international countries and international experiences called me. So I indeed spent half a year studying and living in Miami, also in the field of business administration, but but also a very beautiful time because I’m very much into sports and into sunshine. And, there’s a lot of college opportunity, to do that in in Miami at the same time.
Boris Bösch | Co-Founder & Co-CEO at everstox [00:05:20]:
After that, I also moved to Barcelona, to continue my studies there. So you see a little bit of a tendency to follow the sun and and follow sports. And, yeah, that was that was a good journey and a great international experience for me.
Jörn “Joe” Menninger [00:05:36]:
Did you do the the usual tourist y stuff being in Florida? Meaning, we’re visiting Disney World, Cape Canaveral, and all that stuff, Everglades?
Boris Bösch | Co-Founder & Co-CEO at everstox [00:05:47]:
Yes. Yes. Yes. Of course. I did. I I have to say that, my grandparents actually lived in Miami or close to Miami for almost 15 or 20 years. So I kind of grew up with a lot of stories about Florida and Miami and a lot of pictures of, like, the good old times, living there by the beach. So it was also kind of a childhood dream for me to make it over there as soon as the opportunity presents itself.
Boris Bösch | Co-Founder & Co-CEO at everstox [00:06:11]:
So indeed, I I took the time, the half year I had to experience everything that Miami, Florida, and Dubai, the US has to offer. So Disneyland, Everglades, all all included.
Jörn “Joe” Menninger [00:06:23]:
And then as you said, you went to Barcelona. You have, any recommendation? What’s the best time to visit the city?
Boris Bösch | Co-Founder & Co-CEO at everstox [00:06:31]:
Yes. I do. I do. I would, go either early in the year in early springtime around March or April or then towards, like, late fall when you go in October or November. I think it’s the best time to kind of also, go there when it’s not too hot but still beautiful weather Joe you can be very active and enjoy the city. And it’s not completely overloaded by tourists. That’s one thing about Barcelona as much as I love Spain and I I love Barcelona and I enjoyed my time there. Obviously, the city is very, very crowded.
Boris Bösch | Co-Founder & Co-CEO at everstox [00:07:05]:
And then in in summertime, it also gets a bit too much for me. So I would very much recommend early spring or late fall.
Jörn “Joe” Menninger [00:07:12]:
In Barcelona, which apparently is a beautiful city, you started working in consulting. Was that like, oh, I don’t know what to do. Let’s go full consulting?
Boris Bösch | Co-Founder & Co-CEO at everstox [00:07:23]:
Not not really. I I have to say that, I spent an amazing internship at BCG, already during my studies. So I also had, really strong personal connections back from that project. I think I had an amazing project leader, one of the most impressive people that I’ve worked with in my career so far, that, really made an amazing job and made me learn a lot, within just, 8 or 10 weeks of that internship. So that kind of personal connection, I always kept it active throughout the rest of my studies. And then joining BCG was a very natural step for me because I I could work with people that I knew. I I find them amazing. I can learn a lot from them.
Boris Bösch | Co-Founder & Co-CEO at everstox [00:08:07]:
And it also gave me the opportunity to keep on living this international lifestyle a little bit longer because also at BCG, I could move around project by project a little bit to different places, also to different countries. So my my heart was bleeding a little bit, leaving Barcelona and leaving Spain. And then BCG presented me a great opportunity to start my career and still experience some some other countries and cultures.
Jörn “Joe” Menninger [00:08:32]:
And then you went for a little bit prop tech investing, and then you started after a little bit over half a year, Everstox. Did you when you left BCG already had the plan of Everstox in your drawer?
Boris Bösch | Co-Founder & Co-CEO at everstox [00:08:49]:
Of Everstox, 100% the way Everstox is today? No. Unfortunately not. Otherwise, I think I would have started already 6 months earlier right after leaving BCG. But I had a very, very clear idea and a very clear plan of, starting a company and turning into entrepreneurship. That’s also the reason why I left BCG where I had overall a really good time, with great people, because I wanted to give myself the chance and the opportunity and the mental space to to really give it all to this opportunity to, start a company. So what I did because, I had some first ideas about the logistics market and, like, trends overall that I hope happening. And Joe, my cofounder, and I and later then also Felix Menninger. We had some ideas that there’s a real problem and also believe that it can be solved, but it was still, like, a very, very rough, idea back then.
Boris Bösch | Co-Founder & Co-CEO at everstox [00:09:46]:
So I decided while we were working on kind of continuing that path and really understanding the market better and really getting to the conviction that this is exactly the company and the market that we want to build, I was working on the side, in investment, a little bit on on a freelance base around PropTech because that obviously gave me the perfect opportunity to keep cash flow up in early founder days a little bit, which is also important if you don’t sit on a big bank account after your studies. And at the same time, obviously, looking from the investment side into markets was also a good experience for me to to prepare for entrepreneurship.
Jörn “Joe” Menninger [00:10:24]:
And and and what what was the first idea of Avastox that you started with, and how did it evolve over time before we get into your international expansions?
Boris Bösch | Co-Founder & Co-CEO at everstox [00:10:35]:
Yeah. Yeah. It it it was, I think mainly an understanding of the problem, and of the market opportunity. So in the beginning, I wouldn’t call it an idea. It was more that we came from different angles. So when I take, Johannes, one of my cofounders, he was running he was also working for some time at BCG. He was, then running an ecommerce related Startupradio they sold, office equipment and related services. So he kind of had to deal with operations for Finland and logistics in the background from a customer perspective.
Boris Bösch | Co-Founder & Co-CEO at everstox [00:11:08]:
So he knew the pain and the problem around that. Same for my cofounder, Felix, who worked as CTO at Rocket Internet Ventures for a couple of years. So he was, for a decade, building ecommerce and ecommerce technology and marketplaces and always had to take care of the problem of integrating old school logistics, technology. And myself, I was more looking at at it from the logistics side, where a lot of investment was happening in warehousing space and everything related to that because everybody was kind of seeing the big wave of ecommerce coming, that then also came with COVID, and everybody tried to prepare operational infrastructure to be ready for that. And the people who kind of built up the operations and invested in that, they were not necessarily on top of the software game that is actually needed to also then run this infrastructure effectively. So we looked at different angles on the market, and we saw a lot of growth and we saw a lot of problems, at this intersection of modern commerce and rather old school logistics. And that’s where we said, hey. We see a very complex jungle.
Boris Bösch | Co-Founder & Co-CEO at everstox [00:12:13]:
Everybody every ecommerce company is trying to navigate it by themselves, and we just said there must be a better opportune a better way to do this, a better way to solve it. And that’s where we started from. And then there was a long journey of a lot of customer interviews, logistics provider interviews where we really went deep into understanding the problem and drafting the concept that is Everstox as of today. So I would say a very customer oriented journey where we started with, hey. There’s a real problem, a real pain. Let’s talk to as many people as possible and learn as much about it as possible to get to the best possible idea to solve it.
Jörn “Joe” Menninger [00:12:49]:
And let’s try together to understand, especially for our audience here, what do you guys actually offer? So, basically, we talked about the asset owners, meaning the physical warehouses, the trucks, all the freight logistics, and so on and so forth. You guys, with the software that then connects to marketplaces, to websites, and so on and so forth, how does this all come together? And for example, I’m somebody who’s trying to sell, for example, dog food. What kind of services would you offer me, and how do you actually provide that in the background? That that is actually fascinating for me.
Boris Bösch | Co-Founder & Co-CEO at everstox [00:13:33]:
Mhmm. Yeah. Yeah. I would I would start explaining it from the consumer perspective a little bit because I think in in the end, it’s maybe the the easiest way for all listeners to relate to whatever stocks is doing. Joe, basically, whenever you buy something from your favorite brand, some kind of favorite product that that you want to have, be it food, be it cosmetics, be it fashion, everything that you, like, want and need for your daily life. You you might have different channels where you buy it. You have some favorite online shops. You go on some marketplaces.
Boris Bösch | Co-Founder & Co-CEO at everstox [00:14:05]:
You go in offline retail. You you get the products. And what you see is obviously just, like, the end of the whole supply chain. Chain. You order your product. You get it the next day or something. It seems to be very simple. But what in the end happens in the background is a very, very, very complex journey to make sure that, you know, the different products are available at the right right time, at the right place, and you can get this this very timely delivery the next day or something.
Boris Bösch | Co-Founder & Co-CEO at everstox [00:14:32]:
It’s a very complex supply chain that is behind that. And this very complex supply chain needs to be solved by very ecommerce every ecommerce company on their own. So basically, they have to figure out everything from finding the suppliers, sorting out the warehouses, picking their carriers, and so on to making this whole chain happening. And in between, they have to put a lot of different tools and software, and there’s also still a lot of manual communication happening together to make this work in the end. And we, as Everstox, provide an end to end solution to our clients. So we have all the services integrated in our technology, everything from ordering your products into your warehouses to the warehousing and fulfillment services that you need to basically all the last mile deliveries that you need. And you can all run them via our software. So, basically, one integration for every stocks and access to our software is everything you need to deliver top notch customer experiences to your clients, in a very similar way to kind of the very fast standards that we, for example, know from Everest Amazon over the last couple of years.
Jörn “Joe” Menninger [00:15:39]:
So that means if I’m somebody who just has a website, I can basically purchase every stocks, use the the platform, the services provided there, and can put together my own version of Amazon Amazon Logistics for me.
Boris Bösch | Co-Founder & Co-CEO at everstox [00:15:58]:
That’s correct. With the big advantage that you stay in control of your customer experience and of your supply chain, which means it’s not delivered by Amazon in the end, but it’s delivered by Cho’s pet food brand. And it’s an amazing experience for the customer and the customer relates this amazing experience to you. And it’s also your supply chain. So if you want to change things tomorrow, you can do that. And it’s not like Amazon forcing some new policies or new fees on you, but it’s your distribution network. It’s your customer experience. And Everstox just gives you all the tools and all the intelligence and the software and the services you need to build that on a on a top notch level.
Jörn “Joe” Menninger [00:16:41]:
I see. So that means I could get with your service delivered my my product in branded boxes with the flyers, that I want to have in, for example, some other people I have distribution agreements with, Bauschires and so on and so forth, and that can can all be worked in by you guys. And what what kind of area do you cover? Will you provide services for me only for Germany or all of Europe? Because I do have personal experiences. Getting from point a to point b can be very, very easy if you do it at 2 AM, and it can be very, very long and very, very tiresome Yes. If you try to get from Berlin to Frankfurt or the other way around by car on a Friday afternoon.
Boris Bösch | Co-Founder & Co-CEO at everstox [00:17:32]:
Yeah. A 100%. I I think that what we as Everstox share with our customers is really ambition to to grow and expand, and that also means to grow and expand across borders and internationally. So we had a very strong focus with Everstox, from day 1 to build a very strong international network where we can, deliver our services to our clients. So, obviously, we started out in the DACH region. We very quickly expanded across all the major European markets. I mean, ecommerce, so Italy, France, Spain, Netherlands, and so on. Then around Brexit, it was also super important for us to have a local footprint in terms of logistics operations in the UK.
Boris Bösch | Co-Founder & Co-CEO at everstox [00:18:16]:
And then one and a half, two years ago, we also expanded our footprint to the US. We did that because, a, of course, we as Everstox have strong and international and big ambitions, but most importantly because our customers have them. And I think scaling your business, get in in ecommerce, scaling your operations, scaling your logistics without Everstox is a very, very complex road, to go down, because you would work with a lot of different providers. Shipments get very costly when you cross borders and so on and so forth. And, we kind of build this international network that is then plug and play, ready to use for all our clients. So for them, expanding to more countries, to more markets, reaching more consumers with one day to day delivery is much, much easier than in the traditional way. So that’s one of the core value propositions, this kind of unlimited growth also internationally that we deliver to our clients.
Jörn “Joe” Menninger [00:19:11]:
So that would mean, for example, if I want to have coverage of the European Union, I tell you that is my customer base. You can tell me I need to have stock in this warehouse, in this warehouse, in this warehouse. I need that much, and then you can provide the services for me.
Boris Bösch | Co-Founder & Co-CEO at everstox [00:19:26]:
A 100%. That’s that’s also part of our sales process, for example. So we do basically for free as business development and analysis for our clients where we analyze kind of their customer profile, their order structure, and so on. And then we can make a data driven recommendation of where should they have fulfillment centers, which markets should they serve with local warehouses, where should they use international shipping services, and so on. And then we can, set up the whole, the whole distribution network for them, with fulfillment centers in the countries where they have most orders. And our system and software obviously runs the whole process.
Jörn “Joe” Menninger [00:20:02]:
I have seen that you guys expanded within 2 years after launch to UK, which is, of course, not that big, but also the US. And I do believe providing logistics in the US is a different ballgame given, that it’s quite different from Florida where we’ve already talked about to delivering in the winter in Wyoming.
Boris Bösch | Co-Founder & Co-CEO at everstox [00:20:26]:
Yeah. Yeah. My my local Florida connection obviously helped in that in that process, in terms of experiences. No. I I think for us, this international expansion is is mainly driven by the opportunity of being asset light and being very fast and expanding for our customers. And that meant that expanding to the UK and to the US was, kind of a a very strong opportunity for us and for our clients because I think we often talk about US companies entering the European markets and having sales here and look up to US brands. And I think it’s super important to also build European market leaders and international companies and brands. So we also want to expand there ourselves as Everstox, but also enable all our customers and our strong European customer base to go into international markets, more effectively and be successful there.
Boris Bösch | Co-Founder & Co-CEO at everstox [00:21:22]:
And, yes, obviously, serving a huge market like the US with very, very different states and very different better conditions and very different logistical logistical infrastructure is a big challenge and and one of the things that we solve. So also over there, we have multiple fulfillment locations, where we can cover, the whole nation very fast and very efficiently in terms of delivery. And, yes, if there are some, like, very complex weather conditions that for whatever reasons, trucks can’t drive on the road because it’s, like, full of ice or snow in some states, I think then the flexibility of our solution, our network also comes into play just where we are able to reroute orders to other warehouse locations and fulfill them from there and kind of manage those unexpected complexities of logistics that will always happen for a lot of different reasons, weather being one of
Jörn “Joe” Menninger [00:22:12]:
them. I see. Just to tease you, do do you also, provide delivery services within Alaska and Hawaii?
Boris Bösch | Co-Founder & Co-CEO at everstox [00:22:23]:
I think it, we do. I honestly, I would have to check the database for all orders and see what what are, like, the the most weird addresses that we’ve ever delivered to. Would actually be a funny study, I think. The most rare locations that ever stops delivered to would be cool. I will I will look into that. But in theory, yes. But I think it’s always the decision of our clients if they want to serve those areas because they, I guess, come with higher shipping costs than than other areas. And, then either the customers is actually willing to pay for that, or it might not be the best business case to ship there.
Boris Bösch | Co-Founder & Co-CEO at everstox [00:22:58]:
But maybe people on on Hawaii or in Alaska also willing to pay a bit more to for their shippings. I guess that’s that’s a bit more complex to be served up there.
Jörn “Joe” Menninger [00:23:09]:
I see. And in terms of clients, I’ve seen on your website you provide services for apparel and fashion. Should be pretty easy. Beauty and cosmetics, also consumer goods, maybe a little bit security. But what drew in my attention is food and beverages. We have to take care of freezing or cooling and stuff like that. Furniture and home decor. And what I had in mind is, like, big couches Yep.
Jörn “Joe” Menninger [00:23:36]:
Heavy lifting, literally. Yep. Health and fitness, maybe also some heavy lifting here. Yep. Jewelry, once again, my mind ticked, security and toys, which is apparently also, pretty obvious here. Where did you start, and when did he add, for example, food and beverages and jewelry? Because I do believe especially food and beverages are a very special game here in terms of logistics.
Boris Bösch | Co-Founder & Co-CEO at everstox [00:24:05]:
Yeah. Yeah. Yeah. So no surprise. We didn’t start off with the most complex segments. So it was not the the the cool fresh food, that we started off with, building our solution around. But, obviously, in the more basic segments. But at the same time, I mean, fashion and apparel might sound a bit easier, but if you go into, like, the complexities of return management and return refurbishments and, It gets quite complex.
Boris Bösch | Co-Founder & Co-CEO at everstox [00:24:33]:
Logistics is is never easy for anyone. I think that’s what I also love about, building Everstox because you actually always have, customers with a problem, because logistics is complex. And if we do a great job and we solve those complexities, we can we can actually do a lot for our clients. So we started off with more basic segments, but all of them, have some important software and operational components. On the software side, I think, yes, we we have delivered a lot of things around smart batch tracking solutions and, like, best before dates and and and then all the complexities that you need to keep track and trace of all your products and fulfill on all standards that you have in the cosmetics of food, industry and same for, what I just Menninger, wrong fashion where we invested a lot in very strong return solutions and and return management solutions and return to refund processes on the software side. The good thing, I would say, the software and technology that we are building, it’s modular. So, of course, the food plan is not similar to a fashion plan, but there’s 90 percent overlap in what they need in terms of software features. And then we can build modular solutions on top of that, but we reuse the same core for every client around smart water management, smart inventory management, and so on and so forth.
Boris Bösch | Co-Founder & Co-CEO at everstox [00:25:50]:
And on the operational side, I would say this is a big advantage of our asset light and flexible approach because we work with logistics providers that, by themselves, specialize on certain areas. So we don’t have, like, the furniture and the food and the fashion in the same warehouse, and it’s different corners. But we have specialized warehouses for food. We have specialized warehouses for fashion, and we have specialized but the customer doesn’t have to care because process wise, system wise, software wise, it’s the standardized every stock solution and interface, but we make sure that we have different specialists on the operational side of things for the different segments we serve.
Jörn “Joe” Menninger [00:26:29]:
So you’re basically the main knot in a complex net of corporations with a lot of established, logistic partners here?
Boris Bösch | Co-Founder & Co-CEO at everstox [00:26:39]:
Yes. Yes. 100%. I think it’s it’s been our clear plan from day 1 to work with strong and established logistics providers on kind of an eye to eye partnership level. I think for many founders that go into very established industries, they often think we can do everything better and and, like, we are smarter than everyone in the industry. And I very much disagree at least from what I’ve experienced about logistics and the people behind. I think, as I said, logistics is super complex. There are a lot of companies out there that have built up knowledge and best practice processes and so on.
Boris Bösch | Co-Founder & Co-CEO at everstox [00:27:22]:
A lot of smart people over decades in that industry. Also, a lot of midsized and family run businesses. And when it comes to operations and process automation and so on, they are super strong. And we kind of decided that we want to work on a model that is also working perfectly well for them, and we kind of complement what they do best together with, the software and technology that we bring and that we do best. So I mentioned earlier that we’ve spent a lot of time talking a lot to our customers, ecommerce omni channel company, really understanding them, understanding their pains, and, like, really building for them. We are still doing that with a research function as of today. The same thing we also did on the side of logistics corporations, where we spend a lot of time meeting with them, talking what we want to do with Everstox and really making Everstox, the software and the the approach, how we do business, a clear win win for both, e commerce and and logistics companies.
Jörn “Joe” Menninger [00:28:17]:
And and what what kind of companies we’re talking about here in terms of logistic partners? It’s very likely it’s just not FedEx and UPS you’re working
Boris Bösch | Co-Founder & Co-CEO at everstox [00:28:28]:
with. Yeah. So for I I would differentiate between warehousing and fulfillment and then shipping services. So for, like, delivering the parcels from the warehouses to and we organize all of that for our clients and our software managers, all of that. And for the part from the warehouse to the customers, we also work with very typical carriers like DHL and UPS and FedEx and the ones that you mentioned, because, obviously, though, they they are the ones who have the the network and the reach to reach end customers in all areas all over the globe. There’s also some innovation happening in the space, and we are always adding new partners that might deliver a bit more sustainably and so on to our solution and to our network, but we work with the core ones. When it comes to warehousing and fulfillment, we work with, mainly midsize companies. So couple of 100 to a few thousands of employees, a couple of, like, 5 to 10 very nicely and efficiently run warehouse and fulfillment locations.
Boris Bösch | Co-Founder & Co-CEO at everstox [00:29:28]:
Because what we experienced is that in our view, they are a perfect combination of they have a lot of scale and operational experience and, like, firepower to also invest in very strong intro logistics automation and top notch processes, but they are in our clients. But they are also still agile and fast, because if you grow into, like, a very, very big logistics corporation and then you serve thousands of midsize ecommerce companies, it’s obvious that you can’t provide your service in the same agility and the same flexibility to that many clients across that many locations versus midsized providers that have, in our view, the the perfect combination of scale and power, but at the same time being agile and and flexible in serving their clients.
Jörn “Joe” Menninger [00:30:14]:
Mhmm. I see. I see. We’ve been talking about a lot about your clients on both sides of the network. We’ve been talking about what you have done so far. Let us look a little bit into the future. Everybody is now talking about AI. Are you guys also applying it? And what what do you think can be the benefit to both sides of your marketplace? Mhmm.
Boris Bösch | Co-Founder & Co-CEO at everstox [00:30:44]:
Yep. Yeah. Big big topic. And I sometimes when I when I read about AI overall and then specifically AI and supply chain and AI and logistics, I sometimes also have to smile a little bit, to be honest, because I think the the broad world of logistics as it works today is very far away from being AI ready. What do I mean by that? Of course, you can build a beautiful AI solution that if you had very good data and very good data quality, you could make amazing things happen with AI in logistics. For example, one big topic that always comes up is around demand forecasting and and inventory planning. If you take that example, most companies today, they plan their inventory and forecast demand based on Excel models and some gut feeling where they say, oh, we we are doing a bit more marketing, so maybe there would be a bit more sales. Let’s put up 10% and order 10% more.
Boris Bösch | Co-Founder & Co-CEO at everstox [00:31:42]:
I mean, I’m I’m exaggerating a little bit, but it it’s really a very manual task. So 100%, I I believe that AI can help to do that in a better way. And, you you like to talk about weather earlier. Joe, for example, if you take weather conditions in your forecasting and you know that at some date, it’s gonna rain and people will probably be more at Joe, and that’s why they will order more online on on that very day, or other effects that come into play. There are so many data sources that will help you in in that problem. But I think as long as most of logistics and most of operations actually struggles in even knowing how much inventory they have at the very moment. There’s not so much in in terms of AI that you can build on it. So at the same time, I see that as a huge opportunity for Everstox because while I said the big word of logistics out there is not ready for AI, we have spent the last 3, 4 years on, you know, building a perfect software layer and data layer where we integrate services into our software.
Boris Bösch | Co-Founder & Co-CEO at everstox [00:32:45]:
And you have all the required data available when it comes to order inventory in real time, returns in real time, and so on and so forth. So what we are currently doing is because we say, hey. We have a lot of customers. We have all the data for those customers to actually apply AI models. We are doing some internal development into that direction to deliver solutions for our clients, and we’re also open for partnerships, where we work with, some companies that look at AI and supply chain, but they very much face the problem that they don’t find, like, good data and good data setups that they can work with. So everybody everyone, listening in into this and building, on AI solutions in logistics or supply chain, I’m also very excited to to talk and see if if there’s opportunity to cooperate.
Jörn “Joe” Menninger [00:33:33]:
Yeah. That totally makes sense. And it it it’s always a problem for, of data. I also do know that there’s a lot of, demand forecasters out there for many, many, companies, and they’re especially crucial, in companies, producing perishables like, milk products, cheese, and so on and so forth, you just can’t wait until Christmas. It it doesn’t work that way. I I I do believe there will be a lot of opportunity for AI in the future, and I do believe some of the demand forecasters will have to retool in that area. Talking about retooling, you guys also look into international expansion. Right?
Boris Bösch | Co-Founder & Co-CEO at everstox [00:34:19]:
Yes. Yes. Yes. We already talked about how international our footprint is as of today. So when we look at operational network and, where we can serve our clients and which markets we can serve our clients, I think we we already cover, quite a lot, given that Everstox as a company is just four and a half years old. So very proud of that and also very proud that we could, prove this, like, strong international scalability of every stocks together with a lot of clients that expanded with us over the years. At the same time, when when we look at, go to market, we’ve been focused on the European core markets as of today. So our customer base is mainly European, few US customers, but mainly European, like, 60, 70% from the DACH region.
Boris Bösch | Co-Founder & Co-CEO at everstox [00:35:08]:
And I don’t see any reason why Everslox, could not be, we could not replicate our success in other international markets. I think it’s mainly a matter of putting right focus on the markets, having people on the ground that speak the native languages and so on and so forth, because the technology and the service itself is very, very scalable. So international expansion now that we feel very comfortable and strong about our position that we’ve built in our core markets is definitely one of the big strategic missions for 2025 and onwards.
Jörn “Joe” Menninger [00:35:42]:
I see. When we talked before, you also, you’ve also so far raised 23,000,000 until series a, in 2022, I do believe.
Boris Bösch | Co-Founder & Co-CEO at everstox [00:35:54]:
Yes. Correct.
Jörn “Joe” Menninger [00:35:55]:
That means then you surpassed around 1,000,000 US dollar annual recurring revenue. Your investors include Rocket Internet, Flash Ventures, Global Founders Capital, Capnamic Ventures, and Acton Capital. And we already talked about you are going to maybe do a series b funding in 2025. Fingers crossed for this. You’re open to investors, I presume?
Boris Bösch | Co-Founder & Co-CEO at everstox [00:36:25]:
Yes. Definitely. As as I just, as I just described, we have still big plans ahead of us, be it developing product in the AI space, or, moving forward with our international expansion. Joe, indeed, when, investors share our passion, for the space and for the opportunity and, can bring some knowledge and support and also some capital to the table. We are, always interested to meet and discuss the space and the opportunity itself. And, I think the the last few years, obviously, we’ve, invested a lot into, you know, being very efficient and very stable and and really, like, owning our core markets and building very solid and healthy business in those core markets. So when you look at 2022, which was obviously a very good time to raise money, we used that opportunity. We raised money with great investors.
Boris Bösch | Co-Founder & Co-CEO at everstox [00:37:19]:
And then for the last years, obviously, ecommerce was after COVID slower than it was before. So we also took the time to really double down on our core markets and build a very solid foundation. That’s why we’re also not under pressure for the fundraise, but I think it became clear that, I’m very proud of what we’ve built with Everstox as of today. But there’s a lot of things that I still want to do. Still dreaming of a lot of, different things in the product and of international markets and so on and so forth. So for that additional growth journey, obviously, we are always excited to to meet investors and to discuss those plans.
Jörn “Joe” Menninger [00:37:57]:
You’ve been talking about international expansion. It may be great to have, international investors who have boots on the ground there already, who know the market. What areas you may consider for future expansions and you would be interested to have local investors?
Boris Bösch | Co-Founder & Co-CEO at everstox [00:38:15]:
Yeah. Indeed. I think, international presence, international know how and support and scaling our organization internationally would be some of the areas where, we are excited about, for new investors to bring them to the table. Because, also, when I look at our cap table today and Flash Ventures and and and, by the way, for all founders out there, great experiences, with our investors who can very much recommend them. They are exactly the the partners that we needed, for the last couple of years, and they still have a lot to give for us for the future. But they are mostly, DACH focused, Germany focused, and they can support an international expansion. But, of course, there might be other investors that then have a very strong foot in the ground in other markets. Joe, definitely, the UK and the US are of big interest for us and investors that can support there.
Boris Bösch | Co-Founder & Co-CEO at everstox [00:39:13]:
That that would be, very exciting for us.
Jörn “Joe” Menninger [00:39:18]:
Sounds pretty good. And, I can assume your answer, but I’m sure you’re looking for talented employees.
Boris Bösch | Co-Founder & Co-CEO at everstox [00:39:26]:
Yes. Definitely. Definitely. Across all areas. So everyone’s passionate about ecommerce technology and and logistics. I think everything related to go to market, we want to grow. So we will always need the marketing and sales people and then people to make our customers happy. Also, we have some positions that go a bit deeper into logistics.
Boris Bösch | Co-Founder & Co-CEO at everstox [00:39:46]:
So everyone who, like, like, comes from the logistics industry but is maybe a bit bored of, the way old school logistics companies are operating, I think Eversource could be your place to be to combine innovation and logistics. And last but not least, of course, technology data, it’s at the core of our product. So always looking for people. Joe, yeah. Please, anyone, who is excited about Everstox, reach out to me.
Jörn “Joe” Menninger [00:40:13]:
And all all the people because this, this interview will be live for a few years and we believe you would like to learn more, go down here in the show notes. There will be, of course, your a link to your company website to your LinkedIn profile as well as to the career website of Everstox. Boris, it has been a pleasure talking to you. Thank you very much, and hope to have you back in 2025 and talk about your series b funding.
Boris Bösch | Co-Founder & Co-CEO at everstox [00:40:37]:
Yes. Excited for that. Thank you very much for the great conversation, Trevor. Bye bye.
Jörn “Joe” Menninger [00:40:42]:
My pleasure. Have a good day. Bye bye.
Narrator [00:40:49]:
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