Including Everseen and Dayrize: Seven retail technology funding rounds you need to know about
RTIH rounds up seven retail systems ventures who have recently wrapped notable funding rounds, including Sticky, Sook, Restaurant 265, and Nuvei.
1. Everseen
Everseen, a provider of AI powered computer vision and automation solutions, has raised a €65 million Series A follow on funding round led by Crosspoint Capital Partners.
The cash will be used to continue investment into the firm’s computer vision AI technology and help it scale.
Crosspoint made its original investment in Everseen in June 2021 based on the company’s “disruptive computer vision AI technology, strong customer relationships and its approach to ethical AI”.
2. Sticky
Sticky, a UK startup which enables retailers to turn more of their physical space into Points of Sale, has secured £1.5 million to fund its expansion plans.
The venture, which counts the burger chain Byron among its clients, has attracted backing from new investors Praetura Ventures and Cornerstone VC.
The round also includes follow on funding from SFC Capital.
Sticky uses its own operating system with NFC technology to enable companies in sectors such as retail, hospitality and health and fitness to process payment transactions in less than 10 seconds.
3. Sook
Tobin Capital has made an undisclosed investment in Sook, a startup that takes vacant retail spaces and gives them a modular, digital fit-out which can be rented by the hour.
In a LinkedIn post, Tobin Capital Founder, Luke Tobin, said: “I’m thrilled to announce that we have recently invested in the game changing business Sook.”
He added: “Sook is on a mission to revolutionise the high street. Founded by John Hoyle in 2019 from an empty restaurant in Cambridge, it now offers flexible, sustainable, digitally enabled ‘pop-up’ space to any brand, business, or community who needs it – whenever they need it – in prime retail locations.”
“Sook transforms empty shops into adaptive, ‘pop-up’ spaces, which are rentable by the hour. It does this by installing a modular digital fit-out, which occupiers can design and curate online. The Sook model removes the inefficiencies and cost of a traditional fit-out and allows multiple occupiers to use the space throughout the day.”
“If you haven't seen a Sook store yet, don't worry, with lots of new locations opening soon, it's only a matter of time!”
4. Nuvei
Vancouver, Canada born actor and entrepreneur Ryan Reynolds has acquired a stake in payments specialist Nuvei.
The size of his investment was not disclosed. It closely followed Mint Mobile, the budget wireless provider partly owned by Reynolds, agreeing a $1.35 billion sale to T-Mobile US.
Reynolds, who also has stakes in American Aviation Gin and Wrexham Football Club. said: "I know about as much about FinTech as I did about gin or mobile a few years ago.”
“But Nuvei is impressive. The leadership team is exceedingly intelligent and hard working and it’s about time a Canadian company got the type of attention American tech companies do."
5. Dayrize
Gresham House Ventures has completed a £3.5 million investment into product sustainability impact software business Dayrize.
Founded in the Netherlands in 2020, with offices in Amsterdam and London, Dayrize has developed a rapid sustainability impact assessment tool that delivers product level insights for consumer goods brands and retailers.
The cash will be used to strengthen its capacity for serving its customer base and bolster its sales and customer success teams internationally, with a particular focus on North America.
It will also enable the company to take further advantage of the move towards greater environmental and social impact transparency in the face of shifting regulatory and consumer demands.
Alongside the investment, Gresham House Ventures has worked with Dayrize on the appointment of Andrew Anderson as Chair.
Anderson brings significant experience of founding and scaling software businesses and working with first time founder teams, and will help to guide Dayrize’s commercial strategy.
6. Restaurant365
Restaurant enterprise management software firm, Restaurant365, has announced a $135 million funding round co-led by KKR and L Catterton with participation from current investors, including ICONIQ Growth and Bessemer Venture Partners.
Restaurant365’s software suite brings key accounting, operational, and payroll-based processes together into a single, cloud-based technology.
Proceeds from the round will be invested into product enhancements.
“R365 has achieved continuous, accelerated growth, which is a testament to our strong team who is eager to change the restaurant industry for the better,” says Tony Smith, CEO and Co-Founder at Restaurant365.
“Anytime we receive funding, we recognise it as a privilege. However, the primary driver of this round is uniting with two strategic investors so intimately tied to the restaurant industry. Having recently crossed exciting milestones of $100 million in revenue and $1 billion in value, we can’t wait for what’s next.”
7. Datasembly
Datasembly, a US-based provider of real-time product pricing, promotions, and assortment data for retailers and CPG brands, has secured $16 million in funding led by Noro-Moseley Partners with participation from Grotech Ventures, Topmark Partners and Staley Capital.
It says that the cash will enable it to scale in a capital efficient manner, bringing new tools to the market quickly.
This Series B comes almost three years after the firm raised a $10.3 million Series A led by Craft Ventures.
“CPGs and retailers need comprehensive, cost-effective, real-time pricing and product availability data,” says John Ale, General Partner at Noro-Moseley Partners.
“Datasembly provides the best-in-class solution, collecting and normalising billions of data points weekly. As its customers continue to fight inflation and weather supply chain issues, it is instrumental in empowering effective pricing, promotion and assortment decisions.”
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