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 Bold Metrics, Mondu, Hoxhunt, and Neurolabs.
1. Bold Metrics
AI body modelling technology startup, Bold Metrics, has announced $8 million in Series A financing.
The round, led by Bessemer Venture Partners with participation from Lytical Ventures, ValueStream Ventures, and Nanban Ventures, brings the company’s total funding to $12.3 million.
It will use the funds to accelerate its expansion into new growth markets while also scaling research and development to deepen its core capabilities.
Established in January 2017, Bold Metrics works with a number of brands, including Canada Goose, Tailored Brands (Men’s Wearhouse, Jos A Bank), SuitShop, Blue Delta Denim, UpWest and SIMMS.
2. Neurolabs
UK-based synthetic computer vision startup Neurolabs has completed a $3.5 million seed round led by LAUNCHub Ventures and with Lunar Ventures, Techstart and 7% Ventures as co-investors.
It plans to use the cash to scale operations and expand its offering into several consumer packaged goods use cases.
The company uses digital twins of retail products to train computer vision models to detect those products in the real world. This helps retailers and CPG brands automate organisation wide, visual-based processes such as shelf monitoring in their physical stores.
3. Inventoro
Supply chain tech startup Inventoro has received $850,000 in seed investment from the Presto 2 fund, in exchange for a 14% stake in the company.
The Czech venture was established 14 days before the first Covid-19 lockdown, and provides AI driven sales forecasting, replenishment optimisation and inventory management.
It plans to use the investment for further expansion and development of new products.
4. Hoxhunt
Finland-based cybersecurity training platform, Hoxhunt, has raised $40 million in a Series B round led by Level Equity Management, along with participation by existing investor Icebreaker.vc.
The new funding will aid the development of Hoxhunt’s technology and accelerate growth in new markets, particularly North America.
5. Mondu
B2B buy now, pay later startup Mondu has won the backing of Peter Thiel’s Valar Ventures as lead investor in a $43 million Series A round.
It will use the cash to continue scaling, invest in further product development and pursue international expansion.
Mondu Co-founder and co-CEO Philipp Povel says: “While B2B BNPL is behind the consumer BNPL market, we believe there is a $200 billion opportunity just in Europe and the US, which is bigger than the global consumer BNPL market.”
“This Series A and the backing of our European and US investors will support us to rapidly scale our product and customer reach ahead of further expansion in Europe later this year.”
6. Betastore
Betastore, whose platform helps small African retailers source their inventory and access financing, has bagged $2.5 million in pre-Series A funding from 500 Global, VestedWorld and Loyal VC.
The startup has to date raised $3 million in funding.
