Check out RTIH’s most popular retail technology articles on LinkedIn
Here at RTIH, we’re big fans of LinkedIn and are busy building an amazing community of retail tech enthusiasts on the social media platform. These are the articles that are currently on their radars, including Circ, Getir, Bolt, Jigsaw, Mercaux, Lindex, and Aptos.
1. Circ raises $30m+ with backing from apparel and tech industry giants
Circular fashion company Circ has secured over $30 million in Series B funding.
This was led by the Bill Gates founded Breakthrough Energy Ventures with additional investment from new partners, including Inditex, Milliken & Company, and Lansdowne Partners.
Previous investors also participating included 8090 Partners, Alante Capital, Card Sound Capital, and Marubeni
Circ has developed a technology system that returns clothes to the raw materials from which they were made. It has raised north of $45 in total to date.
2. Stockagile raises €2.5m to connect offline and online retail worlds
Stockagile has raised €2.5 million in a funding round led by Nauta Capital, 4Founders Capital, Angels, and Zone2Boost.
The Barcelona-based firm offers a cloud-based platform that enables inventory and sales management across all sales channels – bricks and mortar, online and marketplaces.
It will use the cash to enhance the platform’s offering and customer sales, as well as launch a new sales and marketing strategy.
3. Forever 21’s parent company sues Bolt and ends up becoming a shareholder
A lawsuit that was filed against one-click checkout startup Bolt by one of its biggest customers will be dismissed following the two parties thrashing out a settlement.
And in an added twist to the story, the same customer — Authentic Brands Group (ABG) — is now a shareholder of the company.
According to a press release, “both companies plan to continue the partnership offering seamless, one-click checkout to ABG's brands Forever 21 and Lucky Brand, while evaluating the possibility of expanding Bolt's technology to more portfolio brands in the coming months.”
It’s a far cry from earlier this year when ABG alleged that Bolt failed to deliver technology as promised and that it missed out on over $150 million in online sales during an integration with Forever 21.
ABG also claimed that Bolt had raised funding “at increasingly high valuations” by “consistently overstating” the nature of its integrations with the company’s brands so that it looked like it had more customers than it actually did.
Bolt hit back by stating that the claims were without merit, and “a transparent attempt” to renegotiate the terms of the companies’ agreements.
4. Electric vehicle charging platform Bonnet teams with DPD
Public electric vehicle charging app Bonnet has announced a partnership with parcel delivery company DPD.
The tie up will provide DPD’s EV drivers in the UK with access to 32,000 charge point locations through Bonnet’s app.
5. Jigsaw deploys Mercaux in-store experience and checkout platform
Mercaux has announced the launch of a partnership with UK women’s fashion retailer, Jigsaw.
Phase one will, according to a press release, “provide a more seamless and inspirational in-store experience for customers by introducing Mercaux’s Store Associate operated, Assisted Selling and Digital Styling solutions.”
The deployment of these solutions will give Jigsaw store representatives real-time access to product discovery and availability across the endless aisle, alongside selling content, such as styling suggestions and recommendations.
The in-store experience will be further enhanced in phase two by the introduction of a trial of Mercaux’s latest solution to the market, Next Generation Composable Checkout, enabling customers to checkout using any payment method wherever and however they wish, be this in-store, online or remotely.
6. Lindex selects Aptos PLM for faster and sustainable product development
Lindex has selected the Aptos Product Lifecycle Management (PLM) solution.
The fashion company says that this will enable it to streamline and automate critical processes involved in the creation and management of its collections, resulting in faster time to market, increased emphasis on quality and sustainability and better collaboration within the organisation and with suppliers.
7. RTIH magazine launches, second edition on the way
Check out the first ever edition of RTIH magazine. We hope you enjoy reading it.
Watch this space for information on the second edition of our mag, which will focus on the online retail space. Coming soon!
8. Getir UK offers free Lurpak butter as shoppers fume over soaring prices
Rapid grocery delivery firm Getir is giving away free Lurpak butter in the UK.
The product has gone viral as Brits take to social media to reveal how much its price has risen in various supermarkets.
The obsession reached a peak earlier this month, making mainstream media headlines aplenty, with a 1kg tub of Lurpak spotted for £9.35 by one person.
Getir shoppers can go on its app and get a free tub of the butter delivered straight to their door when they spend a minimum of £20.
The offer is available while stocks last, so you should probably get your skates on.
9. SleekFlow launches in UK following $8m Series A funding round
Hong Kong-based SaaS omnichannel social commerce platform startup, SleekFlow, has launched its new UK operation following an $8 million Series A funding round.
The company has appointed Craig Johnson as its UK Sales Director and opened its doors in Waterloo, London.
Johnson previously led business development at shipping e-commerce provider Easyship.
Prior to that, he spent four years serving as regional sales manager for Mindbody, with responsibility for growing the UK and EU market and supporting its IPO. The company went on to be acquired by Vista Equity Partners in 2019 for $1.9 billion.
10. New Vinted Go platform enables PUDO focused delivery across Europe
Vinted Go, the shipping brand of Vinted, an online consumer-to-consumer marketplace dedicated to second hand fashion, has unveiled a new B2B centric platform.
This brings together third party carrier infrastructure for Vinted’s marketplace and for future business customers.
The offering is a combination of Vinted Go’s technology, IT and operations infrastructure, which enables businesses to ‘plug in’ to Vinted’s multi-carrier network through a single integration process.
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