Boxy Raises $28 Million to Expand Its Network of Autonomous Convenience Stores
- ByStartupStory | February 18, 2022
Boxy, an autonomous convenience store company, has raised $28.4 million (25 million euros), allowing it to expand across France.
According to EU Startups, Serena, a new investor, led the Series A investment round, which included previous backers CapHorn and LocalGlobe, as well as angel investors.
The money will be used to assist the firm to fulfill its objective of creating a new store every week this year, with a target of 1,000 stores online by 2025. Boxy claims it is trying to grow its network in other parts of France, including the Rhône-Alpes and Hauts de France regions, despite the fact that it is currently concentrating on expanding its network in the Paris region.
Boxy claims to have chosen 250 ordinary items for its stores, which are made out of repurposed shipping containers. Shoppers may use a QR code to visit the store at any time after installing an app, verifying their identification, and registering a payment method. They may choose their things and depart the business after obtaining an invoice shortly after entering.
The announcement comes one month after abka, Poland’s largest convenience store chain, announced the opening of Europe’s largest network of autonomous stores. The business announced the opening of 25 artificial intelligence (AI)-powered stores under the abka Nano brand, ten more than Amazon’s 15 “Just Walk Out” stores in the UK.
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