Boxbot, an Alameda, CA-based provider of a vertical automation solution that sorts and stores packages for last-mile carriers, raised $12 million in Series A funding, bringing its total funding to $29.5 million.
SaaS Investors
The round was led by Playground Global, with participation from Maersk Growth, Toyota Ventures, Pear Ventures, and Artiman Ventures.
Playground Global is an early-stage venture capital firm investing in entrepreneurs who have developed breakthroughs in frontier technologies that will transform existing industries and create entirely new verticals. Founded in 2015 and headquartered in Palo Alto, CA, Playground invests across deep tech and science, including automation, infrastructure, engineered biology, and decarbonization — all underpinned by the next generation of compute.
Boxbot Use of Funds
The funds will be used to accelerate the company's mission of enabling carriers to provide more efficient delivery experiences and bolster the team’s engineering and business operations.
About Boxbot
Boxbot is an innovative automated sorting and storage solution revolutionizing parcel logistics. Boxbot’s proprietary software and hardware platform transforms package handling by making ordinary conveyors three-dimensional. Headquartered in Alameda, CA, Boxbot’s modular solution can store, sort, and sequence size-agnostic, high-throughput payloads while requiring a minimal physical footprint. Boxbot is driving down the costs of last-mile delivery by enabling faster, more intelligent, and denser routing of packages at the warehouse.
Funding Details
Company: Boxbot
Raised: $12.0M
Round: Series A
Funding Month: September 2023
Lead Investors: Playground Global
Additional Investors: Maersk Growth, Toyota Ventures, Pear Ventures, Artiman Ventures
Company Website: https://www.boxbot.io/
Software Category: Automated Sorting and Storage Solution
Source: https://www.businesswire.com/news/home/20230918812917/en