Kuwait's on demand storage application Boxit has raised $600,000 in seed funding, led by Wamda Capital .
Dubai-based Wamda Capital put in $200,000 with contributions from Kuwait-based Arzan VC, Dubai-based investor Equitrust, and a couple others .
“We chose to invest in Boxit because it tackles a problem that is increasingly becoming evident among a youth population that is becoming increasingly urbanized and are moving away from houses into apartments,” Fares Ghandour, a partner at Wamda Capital told Wamda . “Their model is optimized for that cohort.”
The money the startup raised in investment will be spent on hiring more people, marketing, launching new boxes and expanding beyond just Kuwait. They have slowly moved into the UAE market and have potential plans to expand to Saudi Arabia.
“Our next steps involve launching our services in all the major cities of the UAE,” co-founder Premlal Pullisserry told Wamda.
The startup has gotten lots of support from the online community
With the rise of urbanization, people are moving into smaller homes. Boxit aims to make life easier for people who are looking for extra storage space by connecting people with logistics providers who are willing to offer that space on demand.