Boxed

NY based wholesale grocery startup Boxed has now raised $111 million in a new Series D funding round led by Japan mega retailer Aeon along with other investment participating in this round which reportedly values the company at $600 million as per the New York Times.

This strategic investment will see Boxed make use of Aeon’s extensive knowledge on logistics, robotics and AI-driven data usage to accelerate digital transformation as it also sets to expand its service into the Japanese region.

“Our industry is constantly evolving. Our latest fundraising efforts will allow us to capitalize on those changes. 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,” said Chieh Huang, Boxed’s co-founder and CEO.

Boxed will also continue to ramp up automation of facilities with hardware developed by its robotics team with the 5 year old startup notably being one of the few e-commerce companies running on its own software, fulfillment centers and also building its own automation robotics in-house.

“The autonomous vehicles our robotics team has created will help support our rapid growth, enabling us to meet customer demand through increased efficiency, and put us at the forefront of fulfillment center technology,” He continued.

An expansion of its operations around the country is also being explored with the Chicago area being a potential new site for a new facility.

Boxed has now raised just over $240 million in total funding with the likes of GGV Capital, FJ Labs, Greycroft, Founders Fund, First Round Capital, Bessemer and AME Cloud Ventures among others being notable backers.

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