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 AiFi, Getir, Amplience, and ChannelEngine.
1. AiFi
Checkout-free technology startup AiFi has raised $65 million in a Series B funding round.
Qualcomm and Verizon Communications participated in the round through their venture arms.
Discounter Aldi, German supermarket chain REWE and Polish convenience giant Żabka Group also took part.
The round brings AiFi’s total funding to $80 million, with the cash primarily being used to expand its technical team.
2. Amplience
E-commerce platform developer, Amplience, has bagged $100 million in a Series D funding round led by Farview Equity Partners and Sixth Street.
Existing investor Octopus Ventures also participated.
The round, which brings total investments in Amplience to $180 million, will be used for expansion in the US and globally, and to support development and roll-out of the venture’s Dynamic Commerce Experience offering.
3. Akeneo
Product experience management (PXM) and product information management (PIM) specialist, Akeneo, has secured $135 million in Series D financing.
The funding round was led by Summit Partners.
Existing investors Alven and Partech also participated, bringing Akeneo’s total investment raised to $196 million
The new capital will be used for an accelerated product development roadmap, key executive hires, and expansion of Akeneo’s strategic partnerships.
4. ChannelEngine
ChannelEngine, an online marketplace integration platform, has closed a $50 million Series B funding round led by Atomico, with participation from General Catalyst, and existing backers Inkef and Airbridge Equity Partners.
It will use the cash to scale its operations.
“We’re in the midst of a profound shift in e-commerce as brands are increasingly selling directly to consumers via open online marketplaces such as Amazon, Walmart and Zalando. Already 60% of e-commerce happens this way and the growth rate is phenomenal,” says ChannelEngine CEO and founder Jorrit Steinz.
“Our centralised e-commerce integration platform eliminates complexity for brands and retailers, helping them connect with consumers, wherever they are.”
5. Bazaar
B2B e-commerce platform, Bazaar, has raised $70 million in a Series B round led by Dragoneer Investment Group and Tiger Global Management.
Through its digital products and last mile infrastructure, Bazaar, which was founded in 2020, provides procurement, fulfilment, operating software, digital lending, and supply chain products to merchants and suppliers in Pakistan.
The investment takes its total institutional funding to over $100 million.
Existing investors, including Indus Valley Capital, Defy Partners, Acrew Capital, Wavemaker Partners, B&Y Venture Partners and Zayn Capital also participated in the round.
“We are thrilled to support Bazaar’s vision of building an end-to-end commerce and FinTech platform for millions of unbanked and offline merchants in Pakistan,” says Christian Jensen, Partner at Dragoneer Investment Group.
“Its pace of geographic expansion and new product development is a testament to the rare talent and culture co-founders Hamza Jawaid and Saad Jangda (pictured above) have cultivated at Bazaar.”
6. Getir
Turkish rapid grocery delivery startup, Getir, is closing in on a deal to raise $800 million in funding, according to a Bloomberg report.
Featuring $250 million from lead investor Mubadala Investment Co., this would value the company, which launched in 2015, at about $11.8 billion.
Getir, meanwhile, recently said it would reassess its links to Winter Capital should Vladimir Potanin, an oligarch linked to the Russian VC firm, face sanctions due to the invasion of Ukraine.
Winter Capital participated in Getir’s Series D round in June last year and has a 0.45% stake in the company.
A Getir spokesperson told Sifted: “If any sanctions are imposed involving Winter Capital we will do the necessary adjustments. In the meanwhile our legal teams are evaluating the matter and we will act in the appropriate manner.”
