Boxabl

Boxabl is an American housing construction technology company located in Las Vegas, Nevada. It aims to supply accessory dwelling units (ADUs).

History
Boxabl was founded in 2017 by Paolo Tiramani, an industrial designer and mechanical engineer who holds over 150 patents, alongside his son Galiano Tiramani and mechanical engineer Kyle Denman. The company was self-started with $2 million provided by the co-founders, and has since raised over $150 million in crowdfunding across several financing rounds.

In September 2020, the company received its first order: a federal contract for more than $9 million to build and deliver 156 "Casitas" for Camp Justice, the Guantanamo military commission, intended to house lawyers and juries for detainee trials. However, the units were prone to leaking and molding. Additionally, the company exhibited at the International Builders' Show held in Las Vegas in January 2020. In May 2021, CBS News reported on Boxabl's appearance at that year's TinyFest California small home show.

Hamid Firooznia served on Boxabl's three-member board from June 2020 until sometime after January 10, 2023. He had been actively involved with the Iranian shell companies that have illegally owned 650 Fifth Avenue since at least 2017. Galiano Tiramani has said "This is just a guy that, you know, we have a lot of respect for, who is giving solid advice."

Boxabl hinted that Elon Musk had ordered a Boxabl unit in 2020. Musk confirmed his purchase in September 2021. Boxabl stated they delivered one unit to Texas as a demonstration, with no revenue recorded.

In May 2022, the company announced a partnership agreement with homebuilder DR Horton, which entailed an investment and resource sharing, including a phase 1 order of 100 Casita homes.

In 2022, the company opened its second factory building, though as of early 2023, it remained unequipped for production.

Later that year, the Pronghorn Group purchased 176 Casitas to use as workforce housing for the Bagdad copper mine in Bagdad, Arizona. However, 48 were installed before it was determined they violated Arizona Department of Housing laws and codes, including lack of permits, and the rest of the order was suspended when Boxabl settled with the state in April 2023. The company is assessing whether the units can be reconstructed to meet requirements. Each unit's total cost exceeded $100,000, including the foundation and utilities, leaving Pronghorn Group skeptical about their actual cost advantage.

Boxabl's auditor resigned in May 2024. In June 2024, the SEC charged an Investor Relations executive with fraud for raising $1.6 million in Boxabl investments and diverted the funds for his own spending.

Controversy
On March 3, 2023, Business Insider published an article titled "Tiny Homes, Big Problems," outlining various governance, production, and budgeting issues within the firm. This article identified serious defects in spending management, such as significantly above-market salaries for executives. Business Insider's investigation, a lawsuit by a former high-ranking executive, and the company's financial disclosures also revealed that Boxabl spent $15.7 million to build an order for which it received $7.8 million, calling into question Boxabl's claims of producing low-cost housing at scale. As Boxabl raised and spent tens of millions of dollars, Business Insider alleged that an employee named Caroline Larkin, who is romantically involved with the elder Tiramani and is a registered nurse with no accounting or bookkeeping experience, managed day-to-day disbursements from the company's accounts.

Products
Boxabl provides pre-fabricated homes with walls, a floor, and a roof that fold into each other to form a self-contained transportable unit. The company's main model, the Casita, is a 361 square foot base unit. According to their website, these homes are designed to be unpacked and assembled in less than an hour. Manufactured in an assembly line similar to automobile assembly lines, the houses are constructed with materials including steel, ceramic boards, and expanded polystyrene foam.

Various models are designed to be stacked and configured into a variety of configurations. The company reported that it could produce a new home every 90 minutes, though in a year, the company built under 400 homes. By early 2023 there were 160,000 entries on the Casita waitlist with $5.4 million in deposits, though $1 million in deposits had been refunded.

At the 2023 International Builders Conference, Boxabl showcased a new two-story prototype containing three bedrooms, two-and-a-half baths, and an outdoor patio.

Operations
Boxabl is headquartered in Las Vegas, Nevada, and has a factory in North Las Vegas. Paolo Tiramani is the company's Chief Executive Officer.