Saudi Arabia-based logistics startup RedBox raises $5 million

Oluwajuwonlo Afolabi -

RedBox, a Saudi Arabia-based logistics startup has raised $5 million in its pre-Series A funding round led by RAAF Holding Company and Mad'a Investments.

  • The funds will help the firm to improve its logistics solutions, advance customer experience and enter into new markets, it claims.
  • RedBox is a tech-led logistics company that allows customers to pick up delivered parcels from its nearest smart lockers present in over 18 cities in the Kingdom of Saudi Arabia (KSA).
  • The firm plans to increase its smart stations to 800 by year-end.