Storage Solution Provider BoxMySpace Raises Rs 1.92 Cr

<p>Mumbai-based BoxMySpace, storage solution provider, has raised Rs 1.92 crore from a consortium of investors led by Farooq Oomerbhoy, who was one of the co-founders of the early stage fund Orios Venture Partners. Ritesh Veera and Singapore Angel Networks also participated in the funding round.<br><br>The funding will be deployed primarily towards expanding operations in other metro including Pune, Bangalore &amp; Delhi and undertaking key marketing efforts. BoxMySpace also plans to launch other innovative storage solutions in the future and partner with online retailers and SMEs to streamline their need for an efficient storage solution for their goods.<br><br>Farooq A Oomerbhoy, said “Shrinking living spaces, dynamic work patterns have resulted in people adopting a transient way of life, necessitating the need for storage solutions. Certain problems which plague consumers but do not consciously warrant attention unless a solution is bought forward for them, (for eg Ola/Uber) and BmS is one of them. Once consumers realise storage is no longer a hassle and expensive, BmS will become their preferred choice. We are working closely with BmS to introduce this solution to not only Indian consumer, but given the scalable nature of the business will be looking to expand in other part of Asia very soon.”<br><br>Established in January 2015 by Pratyush Jalan, BoxMySpace was formed with an aim to bring the same convenience of cloud storage to the physical goods of a consumer’s home. The consumer can effortlessly avail on-demand storage service for their household goods at their doorstep either through the web or mobile application across Android and iOS platforms for a low monthly fee starting Rs 99.<br><br>BoxMySpace delivers high quality storage boxes to customer’s homes/offices wherein they can pack their belongings in the boxes, thereafter BoxMySpace collects it and stores it safely for them! It also provides spaces for larger storage items through it’s 4x4 and 6x6 packages.<br><br>BoxMySpace leverages the unused spaces in large warehouses and plugs the gap to provide a technology backed solution to retail customers. It also provides the consumer with their storage dashboard to create a visual catalog of all their stored items and a unique code to each item/box to enable recall within 12 to 24 hours.<br><br>According to recent industry reports, on-demand storage industry is gaining strong foothold in US market with estimated revenues of US$24 Billion as of date, with 1 in 10 people in US owning a self storage unit. With the growth of urbainzation in India, micro-living, space constraints BoxMySpace can become a much needed solution. Similar entrants in the US, MakeSpace &amp; BoxBee have raised US$10M &amp; US$7M respectively and BoxFul in HongKong has recently closed a US$8M round.<br><br>(BW Online Bureau)</p>