Japan’s Aeon to invest in grocery delivery Boxed
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Japanese retail group Aeon has lead a US$111 million funding round in US bulk grocery delivery business Boxed.
Besides the cash injection, Aeon and Boxed will share knowledge and experiences on issues such as logistics, robotics and AI data, helping to accelerate Aeon’s digital transformation.
“Our industry is constantly evolving. Our latest fundraising efforts will allow us to capitalise on those changes,” said Boxed CEO and co-founder Chieh Huang in a statement.
“We’ll also continue to expand our national footprint by focusing on reaching our core consumer in various key markets, to increase national brand awareness of Boxed,”
Other participants in the latest Boxed funding round were Alpha Square Group, CDIB Capital, Gabriel Naouri and existing shareholders in Boxed.
Questions & Answers
Q.What is the total amount of investment Boxed has received in this funding round?
What is the total amount of investment Boxed has received in this funding round?
Boxed has secured US$111 million in this latest funding round. This investment was led by the Japanese retail group Aeon, with other participants also contributing.
Q.What additional benefits will Aeon and Boxed gain from this partnership, besides the financial investment?
What additional benefits will Aeon and Boxed gain from this partnership, besides the financial investment?
Beyond the cash injection, Aeon and Boxed plan to exchange knowledge and experiences. This collaboration will focus on areas like logistics, robotics, and AI data, aiming to speed up Aeon’s digital transformation.
Q.Which other entities participated in the funding round for Boxed?
Which other entities participated in the funding round for Boxed?
Besides Aeon, other participants in Boxed's latest funding round included Alpha Square Group, CDIB Capital, and Gabriel Naouri. Existing shareholders in Boxed also contributed to the investment.
Q.How does Boxed intend to use the newly acquired funds?
How does Boxed intend to use the newly acquired funds?
Boxed plans to use the funds to capitalise on industry changes and expand its national footprint. The company will focus on reaching its core consumer in key markets to increase brand awareness.
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