Ten 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 tabby, Captain Fresh, Swiftly, Serve Robotics, and Nomitri.
1. Sparkbox
Praetura Ventures has invested £1.5 million into Sparkbox, a UK-based startup that uses AI and data to help retailers’ merchandising teams make better stock buying and pricing decisions.
Launched in 2019, Sparkbox works with the likes of River Island and MATCHESFASHION, enabling them to forecast demand, optimise their pricing and promotions and plan inventory to reduce waste and the need for big discounts.
It will use Praetura Ventures’ investment to double its team and onboard further fashion, home and seasonal retailers.
2. Serve Robotics
Chipmaking giant Nvidia is investing $10 million in Uber spin off Serve Robotics.
The startup will use the cash to expand its sidewalk delivery robot service outside Los Angeles and San Francisco.
The investment is part of a strategic technology collaboration that aims to further the development of autonomous robotics.
3. tabby
UAE-based buy now pay later venture, tabby, has raised $54 million led by Sequoia Capital India and STV, with additional participation from existing investors Arbor Ventures, Mubadala Investment Capital and Global Founders Capital.
This is an extension of its Series B round announced last year when it bagged $50 million. It brings tabby’s total funding to $180 million in both debt and equity.
The investment will be used to support its international expansion and expand its consumer product offering.
tabby has over 1,100,000 active shoppers in Saudi Arabia and the UAE, collaborating with over 3,000 brands and driving over three million clicks to its partners every month.
4. Nomitri
Berlin-based AI startup Nomitri has closed a €2.5 million seed round led by FoodLabs.
The venture helps bricks and mortar retailers create a personalised and data driven shopping experience.
Its mobile shopping assistant serves as a self-checkout solution, including fraud prevention and customer behaviour insights.
Embedded AI technology enables deep learning algorithms to run directly on endpoints.
Customers include German supermarket chain Edeka Lüning.
5. Popchew
Popchew, a New York-based startup which operates the rails for people to build, launch, and grow digitally native food brands across the US in a matter of weeks, has raised $3.6 million in seed funding.
Long Journey Ventures led the round with participation from Jake Paul’s Anti Fund, Flybridge, WndrCo, the Uber Alumni Syndicate, and angel investors including Rus Yusupov of HQ Trivia and Vine, Steven Galanis of Cameo, Rich Antionello of Complex Media, Scott Belsky, Anthony ‘Pomp’ Pompliano, and Matteo Franceschetti.
The company was founded in 2021 and, in its first six months, launched two brands, Bitcoin Pizza with Pompliano and Wing SZN in partnership with YouTuber Zias.
These are available for delivery via third-party apps and the Popchew website.
6. Captain Fresh
Indian startup, Captain Fresh, a farm-to-retail platform for animal protein, has more than doubled its valuation to $500 million in three months.
Existing backers Prosus Ventures and Tiger Global have co-led its $50 million Series C funding round.
The venture, which has raised over $100 million to date and was valued at about $200 million in its Series B round disclosed in December, is in talks to top up as much as another $10 million in the new round.
7. Swiftly
US-based Swiftly has announced a $100 million Series B funding round led by Wormhole Capital.
This also includes investment from Liquid2 Ventures, Bramalea, Gaingels, Silicon Ventures, Proof VC, Western Technology Investment, Sand Hill Angels and The Martin Family. The latest round of funding brings the company's total investment to $120 million.
It will use the cash to add staff and resources across all company verticals, including engineering, sales, marketing, and customer onboarding.
It will also grow its product offering to serve more retailers, brands and their customers.
Swiftly’s platform connects retail customers through “engaging and personalised digital shopping experiences to the bricks and mortar store, while generating margin-rich retail media dollars”.
Retail customers gain greater product and pricing visibility in stores, exclusive personalised discounts and rewards to boost savings, and a seamless mobile checkout experience.
Swiftly's tech is used by retailers like Family Dollar and The Save Mart Companies. In addition, 100+ of the top CPG brands advertise on its retail media platform.
8. UPTY
Estonian circular fashion startup UPTY has raised €650,000 and started a new round of investment with a target of €3 million to help the company expand internationally.
Launched in 2020, UPTY currently operates in Estonia, Latvia, Lithuania and Finland. This year, it has started to enter the German market, with France, Italy, Spain, Poland, Czech Republic, Netherlands, Sweden and Norway set to follow.
Its online marketplace sells the likes of second hand clothes, bags and shoes.
9. Selfbook
Hotel payment technology provider Selfbook has completed a $15 million extension of its Series A financing that values the company at $300 million.
Tiger Global Management led the extension, as well as the $25 million Series A in October.
10. Calico
Calico, developer of an AI powered supply chain management platform, has raised $2.1 million in seed funding.
The growth financing was led by tennis star Serena Williams’ VC firm Serena Ventures.
Calico's customer base ranges from emerging DTC brands to multi-million-dollar retail companies.
"Supply chains are notoriously slow, fragmented and analogue,” says Kathleen Chan, CEO at Calico.
"Last year alone demonstrated how fragile supply chains are across the world and how desperately a solution is needed. This new round of investment will help us solve these challenges through our platform and factory network.”
“Our partners at Serena Ventures have such deep expertise on the intricacies of brands that their counsel and investment will unlock exponential growth for Calico."
