Five 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 Shopware, Scandit, Tokinomo and Xpressbees.
1. Bolk
Robotic catering startup Bolk has bagged €4 million in a first funding round that involved the likes of Kima Ventures.
A Bolk robot takes up less than two square metres of floor space and is plugged into the mains. It can produce up to 60 meals an hour, with up to 300 different combinations, either to be served cold or be reheated.
Founded in 2020 and based in Paris, Bolk’s target for 2022 is to produce around 40 robots and deploy them in both the Île-de-France and other provinces.
Initially, it aims to market its robot to companies, but is also interested in places where people circulate.
2. Tokinomo
Tokinomo has secured $1.7 million in a pre-Series A investment round to expand its product line and fuel global expansion.
The startup builds and distributes a robotic PoS display system that promotes CPG products in grocery stores.
"I think we serve a big market. In-store promotion budgets are a significant part of the total marketing mix,” says Ionut Vlad, Co-founder and CEO, Tokinomo.
“Brands need to have a solution that creates memorable experiences and meaningful brand activations in groceries. We believe shopper marketers should design real-life interactions with shoppers that make their products stand out from the crowd.”
“This is our mission, and we will continue to grow and develop new solutions with a focus on gathering more data and allowing brands to define their audience better.”
3. Shopware
Shopware, a digital commerce software solutions provider in the DACH region, has raised $100 million in funding from Carlyle and PayPal.
This is the first outside funding that Shopware has ever raised, the venture having been bootstrapped since it was founded in 2000.
Founders Sebastian and Stefan Hamann will retain a significant majority stake in the business and remain co-CEOs of the company.
Carlyle and PayPal’s cash will help drive Shopware’s international expansion and the development of new products.
4. Scandit
Smart data capture specialist, Scandit, has announced a Series D funding round of $150 million at a valuation in excess of $1 billion.
This was led by Warburg Pincus, and included participation from Scandit’s existing shareholder base, including Atomico, Forestay Capital, G2VP, GV, Kreos, NGP Capital, Schneider Electric, Sony Innovation Fund by IGV and Swisscom Ventures.
To date, Scandit has raised almost $300 million.
Since its Series C funding round in May 2020, the company has more than doubled its annual recurring revenue and now has over 1,700 global customers, including American Eagle Outfitters, Carrefour, FedEx, Levi Strauss & Co., Yamato Transport and Sephora.
It plans to use the additional funding to expand its global footprint and team with a particular focus on APAC, including Japan, Singapore and South Korea.
The cash will also accelerate Scandit’s R&D with an increased emphasis on AI/ML capabilities and autonomous data capture methods.
5. Xpressbees
Xpressbees, an India-based logistics startup that works with e-commerce firms in the country, has more than tripled its valuation to $1.2 billion in a new financing round.
It has raised $300 million - $100 million in primary and $200 million in secondary (to give partial exit to Alibaba and full exit to one unspecified Chinese investor) - in a Series F funding round involving Blackstone, TPG and ChrysCapital.
The new funding takes the venture’s total raise to $575.8 million.
