Six retail technology funding rounds you need to know about

RTIH rounds up the retail systems ventures who have recently bagged significant investments, including Lookiero, The Moot Group, OnBuy and Shopic.

1. Lookiero

Online personal shopping service, Lookiero, has announced a $30 million Series C funding round, led by Perwyn, a family-backed private equity and growth capital investor.

Existing investors MMC Ventures, All Iron Ventures and Bonsai Partners followed on in the round.

Founded in 2015, Lookiero currently has more than three million registered users and has grown revenue by over 50% in the first half of 2021 year-on-year.

2. OnBuy

UK-based online marketplace OnBuy.com has closed £35 million in Series A+ funding through VC and strategic technology investors.

The venture launched in 2016 and has attracted more than 7,000 retailers, hosting over 36 million products on its platform.

OnBuy has grown to £155 million annualised GMV with £8 million in total investment until now.

The new investment, which will be a mix of debt and equity, will fuel further growth for OnBuy, as it sets its sights on reaching unicorn status in the coming years.

Congratulations to our partners @OnBuy for completing a £35m Series A+ Funding Round! 👏
— Shiptheory (@shiptheory) July 13, 2021

3.Shopic

Retail AI solution provider, Shopic, has bagged $10 million in equity funding, bringing the total amount raised to date to $21 million.

The round was led by Claridge Israel, with existing investors, Entrée Capital, IBI Tech Fund, and Tal Capital also participating.

Tel Aviv, Israel-based Shopic creates cashierless checkout retail experiences through an AI powered device that clips on to the handles of shopping carts.

The venture, which says that it is “deploying its solutions in stores of major grocery chains worldwide”, will use the new funds to accelerate commercial activities and expand its team.

4. The Moot Group

E-commerce technology platform startup, The Moot Group, has secured £5 million in seed funding in a round led by Fuel Ventures.

This is set to be followed by a Series A round anticipated to be in the region of £20 million.

The funding will be used to get TMG to its £100 million revenue ambition for 2022, three years after inception.

It will also be expanding its operations into the US this year and plans to open further operations in Europe and the UAE shortly after.

5. Yanolja

Yanolja, a South Korean venture that provides cloud-based booking and other systems for the hospitality and travel sector, has completed a $1.7 billion investment round involving SoftBank Vision Fund 2.

It plans to use the funding to invest in the development of technologies and to expand its technology offerings in new markets.

The venture is looking to build and operate a more advanced global travel platform by enhancing its automated solutions using artificial intelligence and personalised offerings based on Big Data.

6. Railsbank

UK-based Banking as a Service outfit Railsbank has raised $70 million in a funding round led by Anthos Capital.

The likes of Central Capital, Cohen and Company and Chris Adelsbach’s new fund Outrun Ventures, along with existing investors, also participated.

Railsbank, which last raised money ($37 million) in November of last year, will use the funds to expand its embedded finance products (Banking as a Service, Cards as a Service, and Credit as a Service) across Europe, Asia Pacific and North America.

The venture’s platform is used by customers such as FinTechs, telcos, supermarkets and consumer brands.