Box Delivery, a Brazilian startup focused on fast and ultra-fast deliveries in up to 30 minutes, has acquired Vuxx, a medium-weight cargo transportation marketplace, for BRL 35 million.
With this purchase, Box Delivery incorporates Vuxx’s technology, which connects companies that need delivery services with freight drivers. Vuxx’s platform currently has over 300 companies and more than 10,000 registered drivers, and all negotiations and real-time tracking of deliveries are handled by the app. As for the driver, Vuxx’ system shows how much he will receive and the best routes to optimize travel time.
This is Box Delivery’s first acquisition since its Series A, last August, when it secured BRL 30 million in a round led by Aliansce Sonae. The funding came along with the development of an Aliansce project to unite Box Delivery’s platform to the digital channels of the malls managed by the investor (39 ventures).
The idea is that the malls will also start to operate as logistics hubs, serving as storage points for products from large retailers for subsequent delivery nearby, resulting in greater logistical and financial efficiency.
By acquiring Vuxx, Box Delivery adapts its operation to meet this demand as well. “The acquisition allows Box Delivery to grow in this segment, both with technology and operational know-how because Vuxx already has the structure to make it all work. We will serve the entire logistics chain, because, besides the last mile, we will also be able to operate in the first mile and in the middle mile. Thus, Box Delivery becomes a complete logistics startup,” said Felipe Criniti, founder and CEO of the startup.
Founded in 2016, Box Delivery is a logistics solutions platform for so-called “last-mile deliveries.” Present in 22 states, it has more than 15,000 companies and more than 170,000 delivery drivers registered on its platform; the startup makes about 45,000 deliveries per day. Among its clients are companies like McDonald’s, Madero/Jeronimo, Burger King, Spoleto, Koni, LeBonton, Bob’s, China in Box, Gendai, Mania de Churrasco, Subway, LivUp, Swift, and RaiaDrogasil.
The startup reported revenues of about BRL 63 million in 2021. For 2022, it expects to quadruple this number. The next step after the acquisition of Vuxx is to hold a roadshow to attract more investments to the business (Series B).