Riyadh - Sharikat Mubasher: RedBox, the Saudi parcel lockers services provider, secured SAR 26.2 million-investments in a Series A funding round led by Jahez, the Saudi online food delivery platform, RedBox announced.

The proceeds will be used to expand its network to accommodate the growth in shipped parcels from its partners including e-commerce businesses and logistics companies.

Thamer Altuwaiyan, the CEO of RedBox, stated that the round will support RedBox’s strategic plans to enhance its infrastructure and its network of smart parcel lockers, covering more cities and regions across the Kingdom.

He also noted that the round reflects the company’s positive growth figures achieved during the first half of 2023.

Furthermore, Altuwaiyan pointed out that the company is in the process of developing several new services in response to the growing need for digital transformation in the logistics sector, aligning with the vision of the Kingdom for 2030.

Meanwhile, Abdulaziz Alhouti, the Chief Investment Officer at Jahez, said: “Last-mile delivery has evolved in the last few years more than any time in the history of the formal parcel industry, and Red Box is leading the charge in Saudi Arabia with their innovative automated parcel machines that enable consumers to receive their shipments securely and at the time and place that work for them, with no friction.”

“At Jahez, we are committed to investing in cutting-edge logistic solutions that will transform the sector and elevate the customer experience by meeting their ever-increasing demand for faster and reliable delivery,” he added.

RedBox is present in more than 50 cities and has a wide network of smart parcel lockers allowing end consumers to receive their parcels quickly and seamlessly and at their convenient time.

Jahez is a Saudi Company that facilitates an online food delivery platform to unite stakeholders from restaurants, logistic fleet, and customers’ meal orders into Jahez mobile application.