What is Boxabl?
Boxabl is a rapidly growing startup that has gained popularity partially thanks to Elon Musk but also because of the growing demand for tiny homes and a housing affordability crisis with no end in sight.
The company’s flagship product is the Boxabl Casita, a 20-foot by 20-foot accessory dwelling unit that can be delivered directly to a customer’s backyard and ready to occupy in an hour. The unit is fitted out as a studio apartment with a full-size kitchen, bathroom, and living room and is expected to sell for $50,000.
The company recently completed a $9.2 million order for the U.S. government and has a waitlist of over 120,000 units. To fulfill the current demand, Boxabl is raising capital from institutional and retail investors to build the world’s largest and most advanced housing factory.
Boxabl received a strategic investment from D.R. Horton Inc. (NYSE: DHI), who agreed to share resources to help the company scale and placed an order for 100 units. The company is also raising capital on StartEngine through a Regulation A+ offering, which allows non-accredited investors to buy preferred shares with a $1,000 minimum investment.
The current crowdfunding campaign for Boxabl on StartEngine has already exceeded $24 million in addition to over $55 million that was previously raised.
BOXABL was started in 2017 by father-son duo Paolo and Galiano Tiramani. Paolo Tiramani is an industrial designer and mechanical engineer who has over 150 patent filings, and Galiano Tiramani is a serial technology entrepreneur. The company started with $2 million by the co-founders. They began R+D, testing, and scouring the planet for alternate building materials and methods that would enable automotive-style mass production of houses.
In 2019, BOXABL was invited to attend the International Builders’ Show in Las Vegas. They built the first BOXABL prototypes, and public interest in the project began to snowball.
In May 2021, the company got a federal contract for more than $9 million to build and deliver 156 Casitas for a military base.
In February 2022, the company announced a partnership agreement with homebuilder DR Horton, which included investment and resource sharing, as well as a Phase 1 order of 100 Casita homes.
BOXABL breaks ground on Factory 1, a 170,000-square-foot manufacturing facility in Las Vegas, NV. This factory enables BOXABL to begin low-volume production and prove the concept, making the case for the world’s most advanced assembly line mass production of housing.
BOXABL is currently in the planning stages for a multi-million-square-foot factory that will produce massive volumes of housing using advances in automation and taking advantage of economies of scale.
To learn more visit https://www.boxabl.com
