RTIH presents the retail technology week in numbers
Do you like numbers? Do you like retail systems news? Then this is the article for you. Including the buy now pay later space, mega funding rounds, and cryptocurrency anniversaries.
30…Which? has called for stronger safeguards to stop online shoppers from choosing buy now pay later (BNPL) services to pay for products without knowing the risks.
BNPL has soared in popularity in recent years, with the biggest provider Klarna now boasting 13 million customers in the UK.
But, according to Which? research, involving interviews with “30 typical BNPL users”, shoppers do not fully understand the risks of choosing a pay later option at the checkout.
$10 million…Sessions, a startup which provides UK foodie entrepreneurs with a platform to sell their products, has raised $10 million in a Series A round.
Founded by Dan Warne, formerly MD of Deliveroo, CFO Ian Banks, formerly CFO of Soho House, and leisure industry specialist Chairman, Graham Turner, Sessions has secured the cash from a syndicate of investors led by Guinness Asset Management.
The business comprises physical consumer facing locations (the Shelter Hall in Brighton being the first of several planned), delivery kitchens and an accelerator model.
5,000…General Motors’ commercial electric vehicle unit BrightDrop has landed Walmart as a customer.
The retailer has inked a deal to reserve 5,000 of BrightDrop’s EV600 and smaller EV410 electric delivery vans to support its last mile delivery network and goal of operating a zero-emissions logistics fleet by 2040.
30 million…Walmart is expanding a service that delivers customers’ groceries directly to their refrigerators.
First launched in 2019, the InHome Delivery offering allows customers to place grocery orders online, then receive their deliveries by having a Walmart associate enter their home by way of a smart lock.
This is currently available to six million households across the US. Walmart now has the goal of reaching 30 million US homes by the end of the year.
€254 million and €1.82 billion…PayFit, a French startup that specialises in payroll and HR management solutions for SMEs, has raised €254 million in a Series E funding round and reached €1.82 billion in valuation.
13…Bitcoin, the world’s largest cryptocurrency, marked its 13th anniversary this week.
20…Online grocery delivery venture Missfresh has inked agreements with more than 20 regional supermarket chains to equip 150+ stores in 19 cities in China with the company’s suite of proprietary SaaS tools and AI driven capabilities.
The deal includes such retailers as Shandong Aodelong Supermarket, Chongqing Jiameijia Department Store, and Changchun Yatai Supermarket.
£7 million…London-based theUp.co has secured a £7 million cash injection to support the expansion of its hospitality “super app”.
Investors include Jägermeister, former Monzo CEO, Tom Blomfield, and JamJar Investment.
$240 million…Reliance Retail has led a $240 million funding round in Google backed hyperlocal delivery Indian startup Dunzo.
$3.5 million and $10 million…3DLOOK, a startup which offers AI powered mobile body measuring and fit solutions,, has raised an additional $3.5 million, bringing the total funding for its Series A round to $10 million.
39.4%…German food delivery venture Delivery Hero is set to acquire a 39.4% stake in Spanish quick commerce startup Glovo.
It currently holds around 43.8% in Glovo shares on a non-diluted basis.
The transaction will value Glovo at Euro 2.3 billion on a fully diluted and debt free basis before certain adjustments.
Delivery Hero will also provide a back-stop financing of up to approximately Euro 250 million to Glovo in several tranches. Glovo will continue to operate under its existing brand and platform and current management team.
35…Buyk, a startup that promises grocery delivery from dark store to doorstep within 15 minutes, has launched its service in Chicago with plans for further expansion across various US geographies in 2022.
The company was founded by Slava Bocharov and Rodion Shishkov. The pair also co-founded Samokat, Russia’s largest grocery delivery company, in 2018 before selling their stake to fund Buyk.
Following its launch in New York City three months ago, Buyk will begin operations in Chicago with six dark stores, bringing the total to 35 stores across both cities.
6…Albertsons is piloting artificial intelligence powered salad bars in six US East Coast supermarkets via a partnership with Picadeli.
It has added the internet linked self-service counters, which stock foods supplied by Picadeli using a platform that optimises assortment by analysing consumption patterns, to Safeway, Acme and Kings Food Market stores in Washington, D.C., Maryland and New Jersey.
Albertsons is the first US grocer to deploy the technology.
