Six retail technology funding rounds you need to know about
RTIH rounds up the retail technology ventures who have been making waves with major investments.
1. Otrium
Otrium, a marketplace which helps fashion and clothing brands sell excess inventory that would otherwise go unsold, has announced a $120 million funding round co-led by BOND and Index Ventures.
This values the five-year-old company at roughly $900 million.
The Dutch startup plans to use the funding to help it expand in the US, where it recently launched its e-commerce service. It is already present in 11 markets in Europe, including the UK, Germany, France, Italy, and Spain.
2. Glovo
On-demand delivery venture, Glovo, has raised €450 million in what it calls the largest financing round secured by a Spanish startup.
The Series F was led by New York-based investment managers Lugard Road Capital and the Luxor Capital Group.
Existing investors Delivery Hero, Drake Enterprises and GP Bullhound also participated.
3. PAIR Eyewear
US-based direct-to-consumer brand, PAIR Eyewear, has closed a $12 million Series A investment round.
This was led by Alex Gurevich at Javelin Venture Partners.
There was also participation from Norwest Venture Partners, Precursor Ventures, Bolt, Gingerbread Capital and other strategic investors including NFL player Christian McCaffrey, and David Rogier, Founder and CEO, Masterclass.
4. Trax
Computer vision startup, Trax, has secured $640 million in a Series E financing round led by SoftBank Vision Fund 21 and BlackRock.
The round, the biggest in Trax’s history, also included new investors such as Canadian pension fund Ontario Municipal Employees Retirement System and VC firm Sony Innovation Fund.
5. Swyft
Shopify-backed startup Swyft has raised $17.5 million to roll-out affordable same-day delivery of online orders for smaller retailers.
6. Paymob
Egyptian digital payments provider, Paymob, has bagged $15 million of new capital from existing investors in a second tranche of its Series A activity.
This follows a first tranche of $3.5 million from July 2020.
The capital raise was led by Global Ventures, a UAE-based VC firm.
