Seven big retail tech funding rounds in 2020

RTIH rounds up the retail technology ventures who have been making waves with major investments.

1. Cooler Screens

Cooler Screens has announced a $80 million+ Series C funding round, involving the likes of Verizon Ventures, Microsoft’s M12 venture fund, GreatPoint Ventures and Silicon Valley Bank.

The startup, which uses interactive digital displays to replace the glass doors in store cooler aisles, has now pulled in over $100 million in funding.

2. AirRobe

Early Afterpay investor and seed fund Investible is backing AirRobe.

NORA Network founder Paul Greenberg and US-based PopSugar co-founder Brian Sugar have invested in the fashion tech startup’s $1.28 million round.

AirRobe Founder/CEO, Hannon Comazzetto tweeted: “This capital and this all star team will help us to transform recommerce. First step - giving merchants the business case to be sustainable.”

Great to be supporting @HannonCc and her vision for @air_robe. Was amazing to see what you've achieved in such a short period. If anyone can solve this huge #sustainability problem in fashion it is you!! Go #fashiontech https://t.co/2Q608flBim
— Adrian Bunter (@adrian_m_b) October 12, 2020

3. Spoon Guru

London-based AI powered food search and discovery technology startup, Spoon Guru, has bagged Series A funding from W23, the VC arm of Woolworths Group.

It did not reveal exact funding details, but said it was a multi-million dollar investment that will be used to expand its footprint with retailers across APAC, North America and Europe. Spoon Guru will also use the cash for product innovation both in-store and online.

4. Edgify

Edgify has completed a $6.5 million seed funding round.

This involved Octopus Ventures, Mangrove Capital Partners and an unnamed company described by Edgify as a “semiconductor giant”.

Imagine going to a self checkout machine, dropping your fruit on the till and the machine instantly recognizes what you placed.

Sounds like a dream right? Well, we made that dream a reality for you guys.

Tell your favourite grocer to head on over to https://t.co/nE8LpS1rqi pic.twitter.com/p3xWSgdTgW
— Edgify (@Edgify_AI) October 8, 2020

5. Instacart

Instacart has raised $200 million in a new funding round involving existing investors. D1 Capital and Valiant Peregrine Fund led the round. Instacart is now worth $17.7 billion, post-money, or $17.5 billion pre-money.

6. Flash Express

Flash Express, a logistics venture that works with e-commerce firms in Thailand, has raised $200 million in a Series D round led by PTT Oil and Retail Business Public Company.

7. Cover Genius

Cover Genius, an Australian InsurTech venture that works with the likes of Booking Holdings, National Express and eBay, has landed A$15 million as it looks to expand its product suite and partner network globally.

This was led by King River Capital and supplemented by a loan from Leap Capital. It builds on a Series B $10 million funding round that closed in November 2019.