MIAMI, July 27, 2017 /PRNewswire/ — Pharmabox, Inc., (www.pharmabox.com), developers of the world’s first automated pharmacy, announced the opening of a second round of financing.
Pharmabox provides a safe, simple, and effective way to obtain high demand pharmaceutical OTC products in convenient locations, 24 hours a day, through a unique automated retailing system.
Pharmabox is equipped with the latest technologies:
- Inventory and sales can be tracked online in real-time, and operators can receive reports, make price adjustments, and manage digital promotions from any computer or smart phone.
- The system accepts cash, credit or debit cards, mobile payments, and even student or employee ID badges.
- The system operates in English and Spanish, and provides a customized selection of the products most used by consumers in each geographic area.
Pharmabox has an exclusive contract with a premier global manufacturer to make the machines, and is the only automated retailer with this advanced system.
Initial funding in 2015 was used to develop prototypes, build units, and test consumer use and purchasing patterns. After two years of highly successful tests in malls owned by Simon Properties and at college campuses, the company is now capitalizing to scale up production and roll out units to meet demand nationwide.
A recent article in Business Management News said that Pharmabox is on the cutting edge of retailing, and is operating in a sector on the rise. “Entrepreneurs are flocking to automated retailing because it allows them to start a business quickly and easily, with a small investment,” the publication reported.
According to market research, the automated retailing sector is projected to be worth $275 billion by 2020.
Pharmabox offers one of the highest ROIs in the automated retailing industry, due in part to its focus on OTC pharmaceutical products – an $8.5 billion market in 2015 in the U.S, with a global market forecast to double within ten years.
People depend on OTC products, often needing them at night or in locations where no traditional brick-and-mortar stores are open or nearby. Consumer dependence on OTC pharmaceutical products is helping fuel Pharmabox’s rapid growth.
Pharmabox is accepting serious inquiries from qualified individual and institutional investors, entrepreneurs and family offices.
For information, call Pharmabox at: 800-560-0914, or visit: www.pharmabox.com
SOURCE Pharmabox, Inc.