History
Boxabl was founded in 2017 by Paolo Tiramani, his son Galiano and Kyle Denman. It began assembly-line production at its first factory in North Las Vegas in 2021.
The company served 160,000 customers, among them Elon Musk; in 2026, Boxabl was described by Business Insider as having a "disgruntled" customer base, an empty factory, and was alleged to have ties with an "Iranian agent"; many of the units sold were reported to have leaking roofs and developed mold. In 2021, Elon Musk was reported as living in a Casita in Boca Chica, Texas, and he described himself in 2022 as owning a Boxabl house.
In January 2023 Boxabl opened a second factory next to the first, but the building was still mostly empty. In the year since production began the company had built fewer than 400 homes, and customers who had paid deposits received little information about delivery dates.
Funding and listing
Most of Boxabl's funding came from retail investors through crowdfunding offerings. By 2025 the company said it had raised over $230 million from more than 50,000 investors. In September 2023 it disclosed that the U.S. Securities and Exchange Commission was investigating it. The investigation closed without an enforcement action.
In August 2025 Boxabl agreed to merge with FG Merger II Corp., a special-purpose acquisition company listed on the Nasdaq. A quarterly filing that month said there was substantial doubt about the company's ability to continue as a going concern. Revenue for the first half of 2025 was $402,000, and the loss for the period was about $41 million. By then Boxabl had built 744 Casitas and delivered 285 of them. The combined company began trading on the Nasdaq under the symbol BXBL on July 20, 2026. Its shares first rose by 20% and by July 23 were nearly 50% below the price at which they had been listed.
