News

SwapBox parcel kiosk secures funding

December 6, 2013

Swapbox, a company that makes and installs self-serve, electronic kiosks for receiving package deliveries, announced that it has secured $800,000 in seed funding led by Tony Hsieh's Vegas Tech Fund with additional capital provided by Fuel Capital, Y Combinator founder Trevor Blackwell, Base Ventures and Ace & Company.

Swapbox graduated Y Combinator's Winter 2013 class and is using its investment to scale to additional locations throughout the San Francisco Bay area, a company news release said. Since its launch, Swapbox has introduced 15 kiosks throughout the city to help customers to receive their package deliveries away from home.

In addition to the new investors, Swapbox is also adding former president and COO of Redbox, Mitch Lowe, as well as the founder and CEO of SocialCam and Justin.TV, Michael Seibel, as advisors.

"I'm excited about the opportunity to advise the team at Swapbox," Lowe said. "I think Swapbox has the potential to scale much like Redbox did in the low-cost rental market."

Check out the video below for a look at the concept:

Read more about kiosks for retail.