Blockchain, robotics and Web3: Six retail technology funding rounds you need to know about
RTIH rounds up the retail systems ventures who have recently wrapped notable funding rounds, including Emperia, Gemba, ThriveCart, and SYKY.
1. ThriveCart
ThriveCart, a specialist in shopping cart, sales funnels and educational course creation technology used by small and medium businesses, has secured a $35 million investment from LTV SaaS Growth Fund.
The venture had not previously raised any other outside funding.
It has also named e-commerce industry veteran Kevin McKeand as CEO.
Josh Bartlett, ThriveCart founder, will continue to drive product innovation.
E-commerce businesses that sell digital products rely on the firm to create content, cart pages, funnels and affiliate campaigns.
2. Emperia
Emperia, which creates immersive e-commerce spaces for retail brands, has raised a $10 million Series A.
This follows an $875k pre-seed in 2021 (featuring Concept Ventures, SFC Capital, Blissgrowth).
The Series A round was led by Base10 Partners and joined by investors including Daphni (via its retail fund Dastore), Sony Innovation Fund, Background Capital, Stanford Capital Partners and Concept Ventures. Angels include Blissgrowth’s Jay Radia.
Emperia's clients include Dior, Bloomingdales and Lacoste. It was launched by fashion and retail specialist Olga Dogadkina and VR innovation expert Simonas Holcmann in 2019.
It will use this fresh funding to grow its team, develop its virtual store SaaS platform and deepen the capabilities of the data suite that powers it, with the aim of accelerating global market presence .
It also plans to utilise virtual store customer data to provide retailers with even better tools with which to personalise the customer experience.
Emperia will also work with partners to bring various global virtual e-commerce solutions under one roof; leveraging the fast growing Web3 ecosystem and its partners’ brand and retail technologies to deliver “game changing customer experiences”.
3. SYKY
SYKY, a blockchain enabled luxury fashion platform, has closed a $9.5 million Series A funding round.
This was led by Alexis Ohanian's firm Seven Seven Six. The round was also funded by Brevan Howard Digital, Leadout Capital, First Light Capital Group, and Polygon Ventures.
SYKY, led by Alice Delahunt, the former Chief Digital & Content Officer at Ralph Lauren and Digital & Social Marketing Director at Burberry, is building a platform that will serve as an incubator, marketplace and social community for the next generation of designers and consumers.
4. Dexory
AI and robotics company, Dexory, formerly known as BotsAndUs, has secured a new round of angel investors.
This follows investment in 2022, when it bagged $13 million in a seed round led by Swiss venture capital firm Lakestar.
The new investors include Paul Dodd, Martin Bysh, and Thomas Bagge.
Dodd, Chief Innovation Officer and Co-founder, Huboo, brings over 20 years of experience working with robotics and supply chain with P&G, both in the UK and worldwide.
Bysh, meanwhile, is CEO and Co-founder at Huboo.
Thomas Bagge, CEO at Digital Container Shipping Association (DCSA), has worked with global supply chains for 25 years in both logistics and container shipping companies.
A large part of his career has been centred around digital transformation, process automation and deployment of new technologies.
5. Gemba
Gemba, a virtual reality training startup used by the likes of Nike, Coca-Cola, and Amazon, has bagged $18 million in a Series A round of funding from Parkway Venture Capital.
This values the firm at $60 million.
The investment will accelerate growth in EMEA and help fund expansion into North America.
Gemba says that customers can expect an even wider choice of training simulations, tools, events and learning experiences, and in 2023 will see the introduction of colocation services, adaptable mixed reality, AI powered consultants, and a customisable version for enterprise use at scale.
6. Twinco Capital
Twinco Capital, a global supply chain finance solution that covers the production cycle from purchase order to final invoice payment, has wrapped a $12 million equity and debt round.
The investment was led by Quona Capital, and included participation from Working Capital, as well as existing investors Mundi Ventures and Finch Capital. Zubi Capital provided the venture debt portion.
The funds will be used to accelerate the company’s expansion within the major sourcing countries and strengthen its technology and data capabilities, in particular in relation to ESG.
Twinco Capital says that it is on a mission to reduce the world’s estimated $1.7 trillion trade finance gap, which disproportionately affects small and medium sized companies in emerging countries and hinders their ability to access business opportunities and grow.
Through its solution, the company engages with large corporations, mostly in the retail and apparel sectors, and offers funding to their suppliers worldwide, advancing up to 60% of the purchase order value upfront and paying the remainder upon delivery.
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