UAE-Based Self Storage Startup Boxit Eyes GCC Expansion Following Latest Investment
With growth doubling during the COVID-19 pandemic, Boxit’s storage platform is a hit in UAE and Kuwait.
Moving is one of those universal activities that no one enjoys, and UAE-based startup Boxit knows it. With operations in Kuwait and the UAE, Boxit has created a proprietary self-storage system that has both inventory tracking and management capabilities. Their customers are able to store their belongings in secure storage facilities and only pay for the volume they occupy without ever having to step foot into a storage facility.
Following its second round of funding, led by Kuwait’s Alif Ba, the UAE-headquartered startup intends to build the personal/SME storage vertical in the region over next few years. They are positioning themselves for expansion into other major GCC cities that have that product-market fit and would benefit from a platform such as Boxit’s ‘valet storage’ offerings.
In 2018, the company's compound annual growth rate was 145%, and 160% over the same period last year. The startup claims that, since the start of 2020, that has doubled - despite the pandemic.
Premlal Pullisserry, Co-Founder of Boxit said, "We were fortunate to engage with the right partners at the right time, the combination of which allowed us to unlock the platform and team’s full potential and embark on a journey of significant growth and eventually market leadership in the region in the years to come."
