rss icon

Wednesday, 28 December 2016 10:42

Oxx raises $200,000 to cover holiday inventory

Written by  MiBiz Staff
Rate this item
(0 votes)
Grand Rapids-based Oxx LLC’s first product, Coffeeboxx, is a crush-proof, dust-proof and waterproof single-serve coffeemaker. Grand Rapids-based Oxx LLC’s first product, Coffeeboxx, is a crush-proof, dust-proof and waterproof single-serve coffeemaker. COURTESY FILE PHOTO

GRAND RAPIDS — Oxx LLC, a manufacturer of rugged appliances, in October raised $200,000 from investors to expand its inventory in preparation for the holiday season.

Oxx, which in 2013 secured $500,000 from the DeVos family-backed venture fund Start Garden LLC, currently makes a crush-proof, dust-proof and waterproof single-serve coffeemaker.

Sales of Oxx’s Coffeeboxx rose approximately 400 percent over the holiday season, said resident and owner Jim Doan.

“This was just a small amount to get some inventory for the holidays,” Doan said. “Sales were awesome so we had to bring inventory in and it’s looks like we need more.”

Doan declined to disclose annual sales for Oxx but noted that the company plans to raise more money in 2017 for new product development as well as sales and marketing efforts.

The company also raised more than $54,000 from crowdfunding platform Kickstarter.

Read 1207 times Last modified on Thursday, 29 December 2016 12:17

Breaking News

January 2018
S M T W T F S
31 1 2 3 4 5 6
7 8 9 10 11 12 13
14 15 16 17 18 19 20
21 22 23 24 25 26 27
28 29 30 31 1 2 3

Follow MiBiz