Boxit raises funding to fuel growth
Boxit, a UAE-based proprietary ‘valet storage’ platform, has successfully closed its second round of funding from a group of private investors led by the institution Alif Ba Holding. Total funding raised by Boxit in its last two rounds over the past year has reached $1.6M.
Boxit, which now operates in the UAE and Kuwait, develops a proprietary platform and technology disrupting traditional self-storage by combining the inventory tracking and management capability typically found in large-scale third-party logistics operations with packing and moving services. They allow their customers to store their belongings and inventory in secure storage facilities outside of the city center, pay only for the volume they occupy, and avoid the hassle of having to visit a storage unit themselves. This allows for a more cost-effective and seamless customer experience when it comes to storage.
The round will fuel its rapid growth and facilitate its goal of securing a firm leadership position in the personal/SME storage vertical in the region over the coming 3 to 5 years.
The team has its sights firmly set on other major GCC cities. They believe there are very significant unmet demand and a big opportunity for Boxit’s simplified customer experience and highly efficient platform and operating model to secure pole position in the personal/SME storage space.
