French startup Boxy, formerly known as Storelift, has raised €25m in a funding round led by Serena, with participation from previous investors CapHorn and LocalGlobe, as well as Bootstrap Europe and business angels. Boxy is a provider of autonomous convenience stores, designed from recycled shipping containers, that can operate 24/7 in underserved areas. With this funding, Boxy aims to expand its network of over 60 stores by the end of 2022 and double its team, with the goal of reaching 1,000 stores by 2025. The startup also plans to strengthen its R&D, marketing, and support and logistics functions.
2CFinance conducted financial due diligence for the funding round. Serena is a French venture capital firm that invests in early-stage companies in the technology, healthcare, and energy sectors. CapHorn is a French venture capital firm that invests in early-stage startups in the technology sector. LocalGlobe is a UK-based venture capital firm that invests in early-stage startups in the technology sector. Bootstrap Europe is a venture capital firm that invests in European technology startups.
Boxy was founded in 2018 by David Gabai and Tom Hayat. The startup aims to provide local communities with access to essential items and address the issue of food deserts in urban and rural areas. Boxy's autonomous stores use a combination of computer vision, artificial intelligence, and sensors to monitor inventory and ensure that shelves are always stocked with fresh and healthy food options.
Boxy's innovative approach to addressing food deserts and providing communities with greater access to essential items has attracted significant investment from Serena and its previous investors. With this funding, Boxy aims to continue expanding its network of stores and providing communities with greater access to healthy and fresh food options.