Saudi Arabia-based startup RedBox, a logistic solution provider offering smart lockers, has raised SR11.5 million ($3 million) in a seed round.
With a network of over 170 smart lockers — which allow customers to receive and return packages — RedBox is planning to increase that number to 800 by the end of 2022 as demand rises.
Vision Ventures led the round with participation from RAF investments and angel investors, Wamda reported.
RedBox was founded by Thamer Altuwaiyan and Zun Phan in 2019 and currently serves more than 9,000 e-commerce businesses.
