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.