Convelio secures Series C to expand New York storage

Convelio has secured Series C funding in a round led by an unnamed French entrepreneurial family, with participation from existing investors Forestay, Mundi Ventures and Acton Capital.

The Paris-based fine art logistics group will use the capital to expand its shipping, storage and collections management services, including a planned warehouse in New York. Phillips has also appointed Convelio as a preferred global logistics partner.

The investment amount was not disclosed, and Convelio did not identify the lead backer, saying only that the investor has strong ties to the global art market.

Founded in 2017, Convelio operates in a market where shipping, storage and inventory processes have often remained manual and fragmented. The company says 3,000 art businesses use its platform for shipping quotes, shipment management, tracking, inventory visibility and storage.

Its growth figures suggest a rapid increase in scale. Convelio says it handled $1.84 billion of fine art shipments in 2025, up from $265 million in 2022, when it raised a $35 million Series B round. Buyers of works worth $1 million or more have also become its fastest-growing customer segment.

AI Focus

A central part of Convelio's pitch is the use of AI in administrative and operational work rather than in creating art. Over the past six months, its systems generated more than 16,000 shipping quotes, saving its operations team the equivalent of 384 days of manual work.

The automation is being applied to quotation, workflow coordination and visibility over works in transit and storage. Convelio argues that these areas have long created friction in the art trade, where opaque pricing, limited tracking and uneven service add cost and uncertainty.

Edouard Gouin, co-founder and chief executive officer of Convelio, presented the company's use of AI as a practical logistics tool rather than a challenge to artistic work.

"The art world has a tricky relationship with AI with participants more inclined to view it as an existential threat than as a potent economic ally. For us at Convelio, that distrust is wildly misplaced. AI's biggest contribution to art will not be to replace human artistic endeavour with cheap, quick AI-generated alternatives. It will lie in its ability to make the mechanisms of access, circulation and collection management more seamless, for the benefit of a wider community of collectors, art lovers and institutions," Gouin said.

Storage Expansion

Convelio currently operates storage sites in London and Paris, both of which it says were above breakeven less than a year after launch. New York is the next target as the company looks to deepen its presence in the largest market for high-value art transactions.

According to figures cited by Convelio, the US accounted for 44 per cent of global art market sales in 2025. That helps explain the focus on New York, which remains a key hub for auction houses, galleries, collectors and institutions.

Gouin said the fresh capital would support that expansion. "We are proud to welcome to Convelio a family with deep roots in the global art market whose investment allows us to double down on our strategy globally, notably in New York - the centre of the global arts world," he said.

Phillips Deal

The agreement with Phillips gives Convelio a higher-profile role at the upper end of the market. Phillips sells around USD $1 billion of fine art annually, and Convelio says the mandate means it now transports works on behalf of the world's three largest auction houses.

Under the arrangement, Phillips will use Convelio for post-sale shipping, storage and release services across London, New York and Hong Kong. For auction houses, logistics has become a more visible part of the client relationship as buyers expect faster processing, clearer pricing and better tracking after a sale.

Paul de Bono, chief operating officer of Phillips in Europe, said the partnership was intended to improve both internal operations and the buyer experience.

"For a long time, we have been looking for ways to make our operations teams more efficient while meaningfully improving the client experience. Convelio's technology gives us a powerful way to do both, combining stronger operational control with high service quality," de Bono said.

Existing investor Acton Capital linked the fundraising and the Phillips deal to Convelio's broader business model.

"At a time when the market has faced strong headwinds, Convelio adapted by deepening its vertical integration and broadening its service offering to deliver even greater value to clients, resulting in significantly stronger economics. This fundraising and the partnership with Phillips are hugely positive outcomes of this well executed strategy. We're delighted to show Convelio our continuing support with this important investment for growth," said Fritz Oidtmann, managing partner at Acton Capital.

A representative for the lead investor commented, "In a market known for its lack of innovation, logistics customers have had to accept a tradeoff between specialist human expertise and efficient tech-led operations. Convelio's ability to blend advanced technology that makes processes simpler and faster to control with expert fine art technicians on the ground stands them apart. The business is showing clear proof that its model works not only at scale, but also for top-end fine art logistics."