Boxhub Raises $2.7M Seed Round to Modernize Shipping Container Industry
Delivery Hero Founder & CEO Niklas Östberg leads funding round; Unity Technologies founder, Uber founding engineer join company's exclusive list of angel investors.
TORONTO, April 11, 2022 (Newswire.com) - Technology startup Boxhub has raised a $2.7M seed round on its mission to become the leading online marketplace for shipping containers. The company's latest funding round will accelerate its rapid U.S. expansion and fuel product development.
The Copenhagen-founded, Toronto-headquartered startup is now backed by lead investor Niklas Östberg, Founder & CEO of Delivery Hero; Conrad Whelan, Founding Engineer of Uber; David Helgason, Founder of Unity Technologies; and superangels Esther Dyson and Charlie Songhurst, among others.
"Boxhub is rapidly digitizing an industry built on pen-and-paper processes," lead investor Niklas Östberg says. "In a few short years, they have turned the logistical headache of buying and selling shipping containers into a quick and frictionless e-commerce experience. I have no doubt Boxhub is going to be the leader in the shipping container trade very soon."
The latest round sees Boxhub earn backing from Innoport, the venture capital arm of 135-year-old maritime leader Schulte Group. The investment unlocks access to Schulte Group's international markets, global customer base, and worldwide network of partnership opportunities.
"Boxhub's shipping container marketplace simultaneously solves for growing multi-vertical demand and reduces the economic impact of empty repositioning," said Haymon Sinapius, Investment Manager at Innoport: "This, in addition to an experienced leadership team, places Boxhub on track to become a very interesting innovator in the container industry."
Other notable Boxhub investors include Aakrit Vaish, Founder & CEO of Haptik; Michael Pomerleau, General Partner of Motion Ventures, and Samuel Fuentes, Founder & CTO of OnTruck.
"We're thrilled to welcome this experienced team of investors to join Boxhub's journey," said Boxhub CEO Maximillian Birner. "I'm convinced their rich expertise in growing tech startups and the maritime industry will help us continue to grow exponentially."
Boxhub was founded in 2017 as an e-commerce platform for B2B and B2C shipping container transactions. The company aims to completely revolutionize how shipping containers are traded by automating all aspects of the value chain for suppliers, customers, container depots, and trucking operators. Thousands of customers have purchased shipping containers through Boxhub, including NASA, General Electric, Hobby Lobby, and the New York City Housing Authority.
The managed marketplace has become popular with customers embarking on DIY/upcycling projects, with many Boxhub-procured containers embarking on second lives as tiny houses, vertical farms, and home offices. The company maintains a 4.7/5-star average Trustpilot rating.
Boxhub is an e-commerce and logistics platform enabling the frictionless purchase and delivery of shipping containers. Founded in 2017, the managed marketplace has become a trusted partner for thousands of container buyers across the United States. By extending the life of containers and reducing the need for empty repositioning, Boxhub aims to build a more sustainable world—one container at a time. For more information, visit boxhub.com.