ROGERS, Ark. (KNWA/KFTA) — Loloft, a new concept in flexible micro-warehousing, today announced that it raised $1 million in funding and is opening its first location in Rogers on February 28, across from the original Walmart store.
In addition to local capital, Loloft has received investment from Revolution’s Rise of the Rest Seed Fund, led by Revolution Chairman and CEO and AOL Co-Founder Steve Case. Loloft was recently selected as the latest investment as part of Rise of the Rest’s Northwest Arkansas spotlight.
Loloft addresses the growing demand for warehousing by offering spaces from 150 square feet to 5,000 square feet, all under one climate-controlled roof, and operates in a similar way to a normal coworking business by offering all-inclusive pricing and move-in ready spaces. Amenities include WiFi, meeting rooms, phone booths, loading dock access, daily carrier pickups and flexible terms starting at 3-months.
Also included is a free unloading service so members don’t need their own forklift or pallet trucks, and they don’t need to be on-site to receive shipments.
Loloft is due to open its first location, “Loloft x.001” on February 28. The 45,000 square foot space is in Rogers, situated directly across the street from Walmart Store #1, the very first Walmart in the world.
“Demand for our micro-warehouse spaces is strong, 50% percent of our available inventory is already pre-sold,” said co-founder Brendan Howell. Loloft has received significant support from Startup Junkie, the University of Arkansas, Northwest Arkansas Council and the Rogers-Lowell Area Chamber of Commerce.
According to its CEO, Loloft is looking to expand rapidly by opening more than 20 locations across the US within the next 12 months. The vision is to build the ultimate flexible last-mile supply chain by opening locations that enable online sellers to quickly deliver goods to their customers, while also creating a thriving community of like-minded individuals and synergistic businesses.