Germany-based internet startup incubator Rocket Internet yesterday launched SpaceWays, a UK-based pick-up and on-demand storage company.
SpaceWays allows its users to rent boxes that can be filled with any item, which the company’s trucks will then collect and store in a warehouse.
SpaceWays will initially operate only in London, where demand for property is driving prices up steeply, but it plans to expand to other British cities and then internationally.
The UK market for self-storage firms is valued at £355m ($608m), with more than 400 active companies. The six largest brands control 30% of the market.
In the past, Rocket Internet, backed by investment bank JP Morgan and investment firm Kinnevik, has invested in several internet-based startups operating in different markets, including food delivery company Hellofood, real estate website Lamudi and fashion company Zalando.
Rocket Internet claimed SpaceWays is its fastest venture ever, launching only eight weeks after the initial idea was broached. Its model is similar to that of MakeSpace, the New York-based startup that raised $8m in early May.
SpaceWays will be managed by two teams, with co-founder David Fuchs running the business from London and another co-founder, Rob Rebholz, in control of the technical side in Berlin.