Retail media advertising specialist GoWit bags $1.3 million in funding to drive expansion across Europe and MENA
AdTech firm GoWit has secured $1.3 million in funding to help drive expansion across Europe and MENA.
Headquartered in Delaware, USA, GoWit works with marketplaces and retailers - including Kingfisher - to offer digital and physical advertising spaces to brands.
In turn, those brands, such as Nespresso and Reckitt, benefit from high impact ad formats displayed across onsite, off-site and in-store channels.
In this investment round, it received support from existing investors Formus Capital (based in the USA), APY Ventures, and Mindvest, while welcoming DCP as a new backer.
It follows a $1 million investment announced last year, which has helped the company to grow its teams in the UK, France, the Netherlands, and the Middle East.
Emrah Adsan, Co-founder and CEO at GoWit, says: "Generally, retailers and marketplaces face difficulty integrating retail media platforms into their existing systems.”
“With GoWIt, the integration will soon take as little as 15 minutes, allowing them to set up their advertising campaigns with a completely self-service solution and start earning instant revenue from their retail media ads.”
“Our latest investment will enhance our product development and support our ambitious growth plans in central Europe, the MENA region and North America”
“Our goal is to demonstrate to all retailers that they can set up advertising campaigns and generate revenue without additional fees or complex integration processes."
Burak Karahasan, Principal at Formus Capital, says: “GoWit’s robust platform and advanced technology have already earned the trust of notable customers in MENA and SEA. Their new self-service capabilities will enable seamless global expansion with minimal localised support.”
“Retail media strategies can greatly increase revenue and profitability for marketplaces and multi-brand retailers. Emrah, Seref and Enes’s expertise in and passion for this space leaves us confident that GoWit is on track to become a leading player in this expanding field.”
Yasemin Gülle, Digital Channels Manager at Koçtaş, Kingfisher's joint venture, says: "As a leading home improvement company with over 350 stores nationwide, we prioritise seamless online to offline advertising experiences.”
“Our strategic retail media partnership with GoWit is crucial in achieving this goal. Onsite ads help us effectively highlight products, capture attention, and drive conversions. Offsite ads significantly expand our reach across diverse touchpoints.”
2024 RTIH INNOVATION AWARDS
Retail media is a key focus area for the sixth edition of the RTIH Innovation Awards, which is now open for entries.
The awards, sponsored by CADS, 3D Cloud, Retail Technology Show 2025, and Business France, celebrate global tech innovation in a fast moving omnichannel world.
It’s free to enter and you can do so across multiple categories.
Key 2024 dates
Friday, 25th October: Award entry deadline
Tuesday, 29th October: 2024 shortlist revealed
30th October-6th November: Judging days
Thursday, 21st November: Winners announced at the 2024 RTIH Innovation Awards ceremony, to be held at RIBA’s 66 Portland Place HQ in Central London.
