Box Delivery buys Vuxx and intensifies dispute for the “last mile” with Loggi
Although a package can travel thousands of kilometers to its final destination, it is only in the so-called “last mile” that that package is really disputed by different companies, such as the Unicorn Loggi and even the Post Office.
This Friday, May 27, the race for the last mile has a new competitor. Box Delivery, which operates with deliveries in up to 30 minutes made with motorcycles and bicycles, signed an agreement for the purchase of the operation of Vuxx, another logistics startup.
The acquisition involved the payment of R$ 35 million for the Vuxx operation and will allow Box Delivery to incorporate the services under its brand. In this way, the company expands its fleet to go beyond instant delivery and carry out deliveries with passenger cars and small trucks.
“We started to sew this agreement in November looking at some companies”, says Felipe Criniti, founder and CEO of Box Delivery, in an exclusive interview with NeoFeed. “Vuxx was the best fit in terms of team, technology and fleet.”
Founded in 2016 by Felipe Trevisan, Vuxx has grown in the market with deliveries made on the same day and the next day and has companies such as Americanas, Ambev, Saint-Gobain and Stellantis in its portfolio. “The plan is to transform the company into a reference in several segments, not only in the food sector”, says Criniti.
The main rival on this path is Loggi, which turned into a unicorn in 2019. After that, the startup continued to raise money. Last year, for example, it raised $212 million in a Series F investment led by CapSur Capital. Today, it is valued at $2 billion.
At the end of last year, Loggi announced an investment of BRL 150 million for a distribution center to double its order processing capacity to 1 million per day by 2023. Box Delivery, in turn, operates with 45 thousand packages daily.
With four-wheel vehicles, Box Delivery will expand its business model to go beyond restaurants, where it delivers meals to customers. With 15,000 registered establishments, the list of clients includes companies such as McDonald’s, Madero, Burger King, Spoleto, Bob’s, China in Box, Gendai, among others.
The plan is to serve B2B, which involves the supply of products to these customers and sales via e-commerce. An example is Ambev, which the startup already operates with the delivery of drinks through the Zé Delivery app. With Vuxx, Box Delivery will be able to supply Ambev products to bars and restaurants.
With new customers, a larger fleet and more technology embedded in the operation, Box Delivery should also expand its range of operations. The forecast is to expand from 200 to 250 cities served by the service by the end of the year. In all, 22 states are served, in addition to the Federal District.
Also founded in 2016, Box Delivery ended the last year with a turnover of R$ 63 million. For this year, driven by the acquisition, the startup’s forecast is that revenue will increase to R$ 294 million. The value may rise even further, since for now it only involves contracts already signed.
Criniti says the startup is financially healthy. Last year, the operation received a boost with a Series A contribution of R$ 30 million led by Aliansce Sonae, with the participation of the Trigo group, owner of Spoleto.
This year, the company started talks to raise US$ 10 million in a new round, now in Series B, which could happen until the middle of the year. “We must have a overbook of investors”, says Criniti.
The fast delivery industry involves the need for a lot of capital as well as facing huge competition. In addition to Loggi, iFood and Rappi also work in this area. Last year, Delivery Center, which had received R$ 100 million in investments, “closed its doors”. Among the investors were BRMalls, Multiplan, SYN (former CCP), Bloomin’Brands (owner of Outback) and José Gallo, former CEO of Renner.