Toronto’s Boxhub, the largest online marketplace for shipping containers in the United States, has raised an impressive $12.4 million in its recent Series A funding round.
Led by AlleyCorp, the early-stage venture fund, the investment will drive Boxhub’s global expansion and product development. Other notable participants in the funding include Solasta Ventures, Interplay VC, FJ Labs, and Hum Capital.
The platform, founded in 2017, modernizes the shipping container industry by offering a digital platform for transactions, replacing outdated manual processes. Boxhub’s approach optimizes the fulfillment system, saving the shipping industry an estimated $20 billion annually.
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