RIYADH: Saudi-based smart parcel lockers company, RedBox, has raised $5 million in a pre-series A funding round led by RAAF Holding Company and Mad’a Investments, MAGNiTT reported. The company, which recently launched its services in Qatar and Bahrain, wants to use this funding to expand into other Gulf Cooperation Council countries, starting with the UAE, then Kuwait and Oman. Established in 2019, the startup provides last-mile services in the logistics sector through its network of smart lockers stations and currently has its operation spread across 18 cities in the Kingdom. The digital logistics company plans to have 800 stations by the end of this year.