Technology

Two Boxes Secures $5.3M in Oversubscribed Funding Round

Published

2 months ago

September 16, 2024

DENVER, Sept. 16, 2024 /PRNewswire/ — With more than one million returns processed to date, the company is a proven logistics solution Two Boxes, the best way for brands and 3PLs to streamline returns and capture critical data from the process, has successfully raised $5.3 million. The oversubscribed funding round led by Peterson Ventures more than doubled the company’s valuation and saw participation from new investor Assembly Ventures, alongside renewed support from existing backers Vinyl, Range Ventures, and Matchstick Ventures.

The Two Boxes Solution
Several solutions address getting an item from a customer’s house back to the warehouse, but Two Boxes uniquely focuses on what happens when the return arrives at the warehouse — a historically complex, manual, and inefficient process. With Two Boxes, brands and 3PLs optimize returns inspection, prioritization, processing, tracking, and a growing list of obstacles.

Recent Two Boxes product innovations empower brands and 3PLs to effectively combat return fraud, a costly issue that is growing in both scale and sophistication. Additionally, by facilitating better returns management and speeding up the timeline in which inventory goes back to stock, Two Boxes makes brands and 3PLs more profitable, supports sustainability efforts, and reduces waste that might otherwise end up in landfills.

The company’s new valuation underscores the market’s confidence in the Two Boxes’ approach and the significant impact it has already made on its customers’ operations.

“Across our portfolio of e-commerce companies, we see firsthand how damaging high return rates can be to a business,” says Taylor Jones, partner at Peterson Ventures. “Two Boxes optimizes what has always been a labor-intensive process while providing data insights that unlock further efficiencies. We are excited to support Two Boxes as they continue to innovate, expand, and become invaluable to the logistics and e-commerce sectors.”

Rapid Growth
Two Boxes recently made news partnering with Loop and Happy Returns, a UPS Company, and currently serves over 20 third-party logistics providers (3PLs) in North America, including industry leaders like Capacity, Flowspace, and GoBolt.

Clients recognize the value of Two Boxes immediately upon trying it – the solution boasts a 100% pilot conversion rate, and 100% of 3PLs who have tested the software expanded their usage within 90 days. Clients report significant benefits, including an 80% reduction in employee training time, a 50%+ increase in efficiency, a 15%+ boost in returns revenue, and complete visibility into critical metrics for both 3PLs and brands.

Since launching their product in 2023, Two Boxes software has been used to process over $100M in returns for over 120 merchants, including popular brands like Caraway, Made In, Tecovas, The Perfect Jean, and Thursday Boot Company.

Looking Ahead
With the capital infusion, the company plans to grow its engineering and go-to-market teams, as well as expand their geographic footprint beyond North America.

“Our mission is to make returns an asset instead of a liability and we’ve never been more excited about our ability to execute against that mission,” says Kyle Bertin, co-founder and CEO Two Boxes. “We are committed to advancing our latest innovations in eliminating fraudulent returns, enabling recommerce, and scaling with rapidly growing brands. We remain dedicated to driving efficiency and sustainability, increasing profits, improving customer experiences, and supporting the growth of our clients—and this new capital will help us to accelerate these efforts at scale.”

New Features, Integrations, and Partnerships
Two Boxes recently launched several new features, including a comprehensive Partner Portal designed to enable seamless onboarding and ongoing optimization for customers. This will enable rapid deployment, easy optimization of return processes, and simplified collaboration across 3PLs and brands. Additionally, they enabled full localization of software for multi-language support to empower warehouse staff regardless of their primary language. Two Boxes just integrated with Redo and will soon announce other integrations, all of which will further enable their ability to support both fast-growing e-commerce brands and enterprise merchants. They established their first recommerce partnership with Arrive, enabling brands and 3PLs to make recommerce a critical part of their returns strategy. Finally, Two Boxes is rolling out an entirely new set of products to empower brands and 3PLs to fight fraud and abuse via intelligent return operations and actionable data.

Learn more about Two Boxes.

About Two Boxes
Founded in 2022 by Kyle Bertin and Evan Stalter, Two Boxes is the best way for brands and 3PLs to process returns and capture critical data from the return process. Like e-commerce and returns, its employees are everywhere. The company has secured $9.8 million in total funding. In 2023, Two Boxes was named one of the Top 50 Promising Startups by The Information.

Media Contact
Kate Burke
6464562889
383319@email4pr.com

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SOURCE Two Boxes

Technology

Reolink Black Friday Sales 2024 – Enjoy Early Saving Today

Published

43 minutes ago

November 15, 2024

LOS ANGELES, Nov. 15, 2024 /PRNewswire/ — Black Friday is just around the corner, enjoy early Black Friday security camera deals to enhance home security sooner. Reolink, an innovative leader in intelligent visual technology for the home, is offering diverse range of security cameras, enabling consumers to keep a vigilant eye on their home’s safety.

From now to November 18th, visit the Reolink website and its Amazon store to get the industry-leading 4K continuous recording battery camera Altas PT Ultra, 4K 180° color night vision battery camera Argus 4 Pro, 2K Dual-Band Wi-Fi Battery Doorbell, along with Argus 3 Pro and E1 Zoom.

Reolink Altas PT Ultra with Solar Panel (Save 31%, now $249.99)

Altas PT Ultra is an industry-leading 4K pan & tilt battery camera that offers continuous recording with a blindspot-free view. Equipped with a powerful 20000mAh battery, it can deliver a 96-hour 4K continuous recording on a single charge. The ColorX technology delivers day&night true-color vision without the needs of spotlights or infrared lights. Originally $359.99, it’s $249.99 during the sale, offering a significant 31% discount.

Reolink Argus 4 Pro with Solar Panel (Save 30%, now $229.99)

Argus 4 Pro is the world’s first 4K battery-powered camera with ColorX Night Vision and dual image stitching technology, providing a 180° blindspot-free view. Its battery life is 30% longer than the average battery-powered cameras in the market, reducing the frequency of charging. Originally $329.99, it’s $229.99 during the sale, offering a remarkable 30% discount.

Reolink Battery Doorbell (Save 30%, now $153.99)

Battery Doorbell features 2K/4MP resolution and captures a full head-to-toe view with no subscription fees. It can run on battery power or be hardwired for consistent operation, offering flexible installation and power supply solutions. Battery Doorbell can support Reolink Home Hub for local storage of video recordings and centralized management of cameras. Originally $219.99, it’s $153.99 during the sale, offering an amazing 30% discount.

Black Friday may be on the horizon, but from today until November 18th, customers can dive into early Reolink Black Friday sales. From now until November 18th, customers can purchase coupons for just a few dollars on the Reolink website. These coupons can be combined with Reolink Black Friday discounts and redeemed for up to $40 from Nov. 19 to Dec. 2. Visit Reolink website and its Amazon store to score the best security camera deals.

About Reolink

Reolink offers smart security solutions for homes and businesses, aiming for a seamless security experience with its wide range of products. Serving millions globally, it provides video surveillance and protection, standing out for its commitment to security technology innovation.

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SOURCE Reolink Innovation Inc.

Technology

AEKE Reimagines Home Fitness Experience with Launch of AI-Powered Smart Home Gym K1 on Kickstarter

Published

43 minutes ago

November 15, 2024

NEW YORK, Nov. 15, 2024 /PRNewswire/ — AEKE is redefining home fitness with the launch of the Smart Home Gym K1, set to debut on Kickstarter this December 3rd. The all-in-one, AI-powered gym with an auto-foldable and movable design brings a new level of accessibility and efficiency to fitness by transforming any space into a hyper-personalized training hub.

Taking up just 0.3 square meters, the new AEKE K1 features an AI coaching system that empowers users to train smarter other than harder.

Key Features of the AEKE K1:

AI-Driven Personalization: Leveraging advanced AI, the K1 builds custom workout plans and courses, adapting them based on individual progress and goals through a six-dimensional body assessment.Precision Motion Tracking: Powered by high-sensitivity AI cameras and powerful 5T chips, our self-developed vertical AI Model ensures precise tracking, offering real-time feedback on form, speed, and balance and rep count.Compact-Smart Design: With its sleek, compact design, the K1 easily integrates into any room, blending in without dominating home space.No Ongoing Fees: Access all the features and updates with no subscriptions, making it a cost-effective solution.Complete Training Solution: Catering to a range of fitness goals from weight loss to muscle gain, the K1 includes a variety of workout programs from strength training to yoga to keep exercise routines diverse and effective.Targeted Strength-Building Strategy: With advanced algorithms built by AEKE, K1 adapts intensity as users grow stronger, backed by professional strength training plans and data-driven performance insights to help users stay on track.Personalized and immersive experience: Motion gaming and exercise competition, a 2.1-channel Bluetooth speaker and customer can customized their own music playlist during course make it more immersive and fun.

“We are hugely grateful to our crowdfunding supporters for enabling us to create an innovative fitness experience. I’ve seen firsthand how financial, time, and space constraints hold many people back from accessing quality fitness instruction. Inconsistent training levels can also make it tough for people to find reliable trainers and see results, even after investing time and money. The K1 removes common barriers to fitness and makes professional fitness training accessible to everyone, helping them more efficiently achieve their goals, no matter their schedule or space,” said Loong, COO of AEKE.

With the Kickstarter campaign launching this month, early backers can be among the first to embark on a unique fitness journey offered by the award-winning AEKE K1, which has clinched the German Red Dot Award, the American IDA Design Award, and the International CMF Design Award since it was unveiled.

Currently, AEKE is gearing up for crowdfunding and is offering many benefits for customers who place a deposit. For more details and to get updates, visit aeke.com

About AEKE

Founded in 2022, With a team of over 200 industrial sports scientists, hardware engineers, and AI experts, AEKE combines AI technology with a human-centric approach to deliver the most intelligent and effective fitness experience.

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SOURCE AEKE

Technology

UST Opens New Office and Generative AI Experience Center in Cyberjaya, Malaysia

Published

43 minutes ago

November 15, 2024

Inauguration of third delivery center in Malaysia positions the country as the focal point for UST’s expansion in Southeast Asia

CYBERJAYA, Malaysia, Nov. 15, 2024 /PRNewswire/ —UST, a leading digital transformation solutions company, has opened a new office and state-of-the-art Generative AI Experience Center in Cyberjaya, Selangor, Malaysia. This facility will act as a hub for innovation and collaboration, bringing together leaders and thinkers at the forefront of the Generative AI space to drive digital transformation in Southeast Asia and beyond.

The new Cyberjaya facility is UST’s third delivery center in Malaysia and will develop cutting-edge AI solutions for use in a diverse range of market sectors, including banking, manufacturing, retail, O&G, telecom, and education. The GenAI Center of Excellence in Malaysia will elevate customer experiences across Southeast Asia to improve both the engineering services and the digital portfolio of UST. A key focus area will be developing custom Large Language Models (LLMs) tailored to specific business needs. Additionally, work conducted at the Center of Excellence will empower cloud, infrastructure, and cybersecurity applications, automating backend tasks and digitising front-end user experiences, benefiting both engineering and GBS teams.

The facility was formally opened on November 11, as part of a ceremony featuring notable tech industry leaders and government officials including: Y.A.B. Dato’ Seri Amirudin Bin Shari, Menteri Besar (Chief Minister) of Selangor state; Wan Murdani Wan Mohamad, Senior Vice President of Malaysia Digital Economy Corporation (MDEC); Puan Nor Suhaila Binti Saat, Director, Sepang Municipal Council; Kamarul Ariffin Abdul Samad, Chief Executive Officer, Cyberview Sdn Bhd; TS Koay, Managing Director Dell Technologies Malaysia, Chai Ping Chua, Country Site Leader Experian Malaysia, Sunil Balakrishnan, CVO & Global Head of Center Operations, UST; Gilroy Mathew, Sr Vice president, UST; and Amar Chhajer, Vice President & Country Head Malaysia, UST.

“The opening of this advanced new delivery center will enhance our ability to support the growing Malaysian and Southeast Asian markets and positions us for further growth in this dynamic region. UST’s focus on Generative AI aligns with the current digital landscape and will empower businesses to harness the potential of AI and automation to drive digital transformation. We’re grateful for the support of our partners and stakeholders, who has been instrumental in fostering a strong tech community here in Malaysia. UST’s focus on Generative AI aligns with the current digital landscape and will empower businesses to harness the potential of AI and automation to drive digital transformation,” said Amar Chhajer, Vice President & Country Head – Malaysia, UST.

“UST is a key partner in our mission to develop digital infrastructure and nurture local tech talent. The UST Gen AI Center of Excellence is exactly the type of forward-thinking initiative that will help propel Malaysia into the next phase of digital evolution. It will be a catalyst for research and development in AI, helping to unlock new opportunities and insights across a wide range of sectors. UST’s commitment to Malaysia’s thriving tech ecosystem has been instrumental in helping transform this sector of our economy. Over the past decade, UST has invested in developing over 10,000 engineering professionals in Malaysia, contributing to the creation of a dynamic and resilient digital ecosystem,” said Y.A.B. Dato’ Seri Amirudin Bin Shari, Menteri Besar (Chief Minister) of Selangor state.

UST began operating in Malaysia in 2006, opening its first center in Penang in 2011. This location also became home to UST’s first Infinity Lab in 2020, supporting innovation that has helped UST expand operations throughout Southeast Asia. UST Malaysia has grown to become one of the company’s biggest delivery center locations in the world and there are currently over 1,500 USsociates in Malaysia. UST Malaysia has two delivery centers in Penang. UST is certified as a ‘Great Place to Work’ in Malaysia.

About UST

Since 1999, UST has worked side by side with the world’s best companies to make a powerful impact through transformation. Powered by technology, inspired by people, and led by our purpose, we partner with our clients from design to operation. Our digital solutions, proprietary platforms, engineering expertise, and innovation ecosystem turn core challenges into impactful, disruptive solutions. With deep industry knowledge and a future-ready mindset, we infuse innovation and agility into our clients’ organizations–delivering measurable value and positive lasting change for them, their customers, and communities around the world. Together, with 30,000+ employees in 30+ countries, we build for boundless impact–touching billions of lives in the process. Visit us at www.UST.com

Media Contacts, UST:

Tinu Cherian Abraham
+1 (949) 415-9857

Merrick Laravea
+1 (949) 416-6212

Neha Misri
+91-9284726602

Roshni Das K
+91 7736795557
media.relations@ust.com

Media Contacts, India:

Adfactors PR
ust@adfactorspr.com

Media Contacts, U.S.

S&C PR
+1-646.941.9139
media@scprgroup.com

Makovsky
ust@makovsky.com

Media Contacts, U.K.:

FTI Consulting
UST@fticonsulting.com