Boxbot, an Alameda, CA-based provider of a vertical automation solution that sorts and stores packages for last-mile carriers, raised $12M in Series A funding.
The round, which brought the total amount to $29.5M, was led by Playground Global. Maersk Growth (the venture arm of A.P. Moller), Toyota Ventures, Pear Ventures, and Artiman Ventures also participated. Playground Global Venture Partner Richard Peretz, former CFO at UPS, will join the company’s board of directors.
The company intends to use the funds to expand operations and its business reach.
Led by Founder and CEO Austin Oehlerking, Boxbot provides a proprietary software and hardware platform that transforms package handling by making ordinary conveyors three-dimensional. Its modular solution can store, sort, and sequence size-agnostic, high throughput payloads while requiring a minimal physical footprint. Storage density is maximized by dynamically adapting the space required for each payload in real time. The system is designed for flexibility and can be installed in both new or existing facilities.
FinSMEs
18/09/2023