Six retail technology funding rounds you need to know about
RTIH rounds up the retail systems ventures who have been making waves with major investments, including Gorillas, Fabric, Thrasio, and Attest.
1. kevin.
kevin., a Lithuanian startup which provides a payment infrastructure for online, mobile, and physical sales, has secured $10 million of capital in a seed funding round.
The investment, which brings the company’s total capital raised to $14 million, was co-led by OTB Ventures and Speedinvest.
Also joining the round were OpenOcean, Javier Perez’s Global PayTech Ventures, and AmRest founder Henry McGovern.
2. Gorillas
Rapid grocery delivery venture, Gorillas, has raised close to $1 billion in a Series C funding round.
This was led by Delivery Hero, and included further investments by existing investors Coatue Management, DST Global, Tencent, Atlantic Food Labs, Fifth Wall, Greenoaks, A*, and new backers G Squared, Alanda Capital, Macquarie Capital, MSA Capital and Thrive Capital.
It comes seven months after Gorillas bagged $290 million in Series B funding, taking its valuation past the $1 billion mark.
it also closely follows protests over its treatment of delivery riders and warehouse workers, as well as the departure of senior executives, fuelling criticism of Chief Executive Kağan Sümer.
3. Citcon
Mobile wallet payment provider, Citcon, has bagged $30 million in funding in a Series C round co-led by Norwest Venture Partners and Cota Capital.
Sierra Ventures and Sonae IM also participated, which brings Citcon’s total raised since its 2015 inception to nearly $50 million.
The new funding will support the addition of staff and global expansion.
4. Attest
Market research platform venture Attest has raised $60 million in Series B funding.
This brings the total funds invested in the company, whose clients include Microsoft, Santander, Walgreens/Boots, Wise and Klarna, to over $85 million.
The cash will help accelerate Attest’s expansion in both Europe and North America, as well as the company’s mission to “make high quality research simple, fast and powerful for everyone on a continuous basis”.
5. Thrasio
Thrasio, which buys and scales third-party merchants selling on Amazon and other marketplace platforms, has closed an all equity Series D of over $1 billion.
Silver Lake and Advent International led the round. Upper90, funds managed by Oaktree Capital Management, L.P., PEAK6 Investments and Corner Capital - all previous backers - also participated.
6. Fabric
Micro-fulfillment startup, Fabric, has landed $200 million in Series C funding led by Temasek.
With a valuation of over $1 billion and $376 million in capital raised to date, it plans to expand its headcount and build a network of microfulfillment centres across the US.
Fabric’s customers include Walmart, Instacart, and FreshDirect.
