‘Out-of-the-box’ model of convenient shopping gets Paris startup €25 million

In times when convenient shopping has still not become yet that convenient, Paris-based Boxy has raised €25 million to become a national network of autonomous convenience stores. The Series A round was led by new investor Serena, with historical investors CapHorn and LocalGlobe and several angel investors. Part of the funding was also provided by Bootstrap Europe in growth debt.

The round comes less than a year after a €5 million seed round, when the company, which was earlier called Storelift, unveiled its first store model.

The extra capital will enable it to significantly fuel development in France. By 2022, it is planning to open a new Boxy every week on average. While it continues to build up its network in the Paris region, it will also enter other parts of France, starting with the Rhône-Alpes and Hauts de France regions. The startup will also deploy 1,000 stores by 2025 and double workforce, from 50 to 100 employees by the end of 2022.

Founded by David Gabai and Tom Hayat, the startup is redefining convenience shopping. Built from recycled sea containers, these storage offerings can multiply indefinitely, cost-effectively and fit into any environment, be it workplaces or living spaces. The platform aims to be of use to the majority of French people who are facing an insufficient convenient offer and are not targeted by the services reserved for bigger cities.

David Gabai and Tom Hayat, founders of Boxy said: “With every other shopping experience, there is compromise. Large supermarkets are cheap but often far and time-consuming. Smaller convenience stores are close by but expensive. Delivery services are convenient, but there's a waiting time, a fee and they're not available everywhere. Very few are open 24/7. Our mission is to deliver uncompromising convenience through every experience.”

The platform has a carefully selected offer of 250 useful products for everyday life (from groceries to take-out) at a fair price and tech is inwritten into the company’s DNA. Boxy provides a smooth, accessible and fast shopping experience – mastering the entire value chain (including data, logistics, goodwill and the network of outlets).

After downloading the Boxy application, entering your identity and registering your payment method, you can access the store (24 hours a day, 7 days a week) via QR code.