Mumbai-based on-demand physical storage solutions provider BoxMySpace, which uses technology to enable clutter free homes and office, has raised funds in a pre-Series A round from existing and a clutch of investors.
The funding was led by R Jayakumar, founder and MD of Jayem Group, followed by Vaibhav Vohra, director at Continental Carriers; Aditya and Rhea Vazirani, from Robinsons Global; AVN Business Solutions; Dreamweaver Investments and Business Solutions and Satveer Singh Thakral of Singapore Angel Network, who earlier invested in the startup.
The latest proceed, which remains undisclosed will be used to boost operations, enhance technology and strengthen the back-end infrastructure for building a network of warehouses, and supporting logistics services across multiple cities, reported VCCirlce.
BoxMySpace (DTC Technologies Pvt Ltd) was established in January 2015 by Pratyush Jalan, leverages the unused spaces in large warehouses and plugs the gap to provide a technology backed solution to retail customers.
The whole process of ordering boxes, scheduling a pickup, tracking and indexing the boxes is done online, where customers can avail of on-demand storage services for their household goods at their doorstep either through the web or mobile app across Android and iOS platforms for a low monthly fee of as low as Rs 99.
In case of recall of any item, their technology provides the consumer with a storage dashboard to create a visual catalogue of all stored items and a code for each item/box.
For warehousing, the company tied up with a logistics company which handles the inward and outward of the boxes based on bar-coding and unique id.
“The partnership (with new and existing investors) will enable us to access new markets and build value for our client network and theirs,” Jalan said.
Earlier the company had raised Rs 1.92 crore in seed-round from angel investors, such as Farooq Oomerbhoy, co-founders of the early stage fund Orios Venture Partners. Ritesh Veera and Singapore Angel Networks.