The persistent headache of missed package deliveries might get some relief, as Citibox, a smart locker platform, announced a $108.0M Series b funding round. The capital infusion will help the company expand its network of universal parcel boxes, designed to eliminate the frustration of failed last-mile deliveries for online shoppers.
Citibox operates as a platform connecting package recipients with carriers, allowing users to receive online orders even when not home. Its business model centers on the significant operational savings it offers carriers through first-attempt, single-point deliveries within buildings, a system that also contributes to reduced traffic and daily CO2 emissions.
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