Funding Roundup: Big Series B Wins for ChannelEngine, Bazaar, Wasoko and Other Deals

Mar 18, 2022

It has been yet another great week for startups in the e-commerce, logistics and supply chain space. In this week’s Ecosystem Funding Roundup, we are thrilled to feature 7 of their amazing accomplishments:

ChannelEngine Series B Funding

ChannelEngine is the leading platform that connects brands to the global network of international marketplaces and sales channels. With data and analytics at its core, the Leiden-based startup provides merchants with tools such as automated repricing and stock management. Through the $50M funding from its recent Series B, the company will continue to develop its capabilities, bringing it one step closer to its ambition of becoming the world’s largest e-commerce operating platform.

  • Year Founded: 2015

  • Founder(s): Jorrit Steinz

  • Location: Leiden, The Netherlands

  • Latest Funding: $50M Series B

  • Lead Investor(s): Atomico, General Catalyst

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Licious Series F Funding 

Licious is a Bengaluru-based startup that specializes in an unmatched range of meat, seafood and other fresh animal proteins. Built on a farm-to-fork business model, the company has been able to build differentiation across all dimensions including technology, product quality and consumer engagement. As an extension of the Series F announced last year, Licious has raised an additional $150M in what appears to be a move towards an initial public offering.

  • Year Founded: 2015

  • Founder(s): Abhay Hanjura, Vivek Gupta

  • Location: Bengaluru, India

  • Latest Funding: $150M Series F

  • Lead Investor(s): Amansa Capital, Kotak PE, Axis Growth Avenues AIF – I

Bazaar Series B Funding 

Bazaar is on a mission to build what it calls an “operating system for traditional retail” in Pakistan. In just two years, it has amassed approximately 5 million small and medium-sized enterprises across the country. Following the latest $70M Series B, the company is looking to scale its lending offerings, explore new product lines and also expand into more cities across Pakistan.

  • Year Founded: 2020

  • Founder(s): Saad Jangda, Hamza Jawaid

  • Location: Karachi, Pakistan 

  • Latest Funding: $70M Series B

  • Lead Investor(s): Dragoneer Investment Group, Tiger Global

Upscalio Pre-Series B Funding 

Upscalio is a next generation, data-driven consumer goods company that is focused on helping e-commerce businesses unlock wealth. Over the last 9 months, the Thrasio-style platform has assembled a portfolio of 13 brands including Polestar and Green Soul Ergonomics. In a Pre-Series B round led by Gulf Islamic Investments, Upscalio has secured $15M to invest in hiring across key growth functions and to partner with more brands in India.

  • Year Founded: 2021

  • Founder(s): Gautam Kshatriya, Saaim Khan, Nitin Agarwal

  • Location: Gurgaon, India 

  • Latest Funding: $15M Pre-Series B

  • Lead Investor(s): Gulf Islamic Investments

Bosta Pre-Series B Funding

Bosta is a prominent logistics firm that provides a full-stack delivery solution for e-commerce businesses. Since its inception in 2017, the company has already delivered more than 10 million shipments and has plans to reach 1 billion by the end of 2025. Bosta recently announced its expansion to Saudi Arabia after completing an undisclosed Pre-Series B featuring Hassan Allam Holding and Khwarizmi Ventures as its lead investors.

  • Year Founded: 2017

  • Founder(s): Mohamed Ezzat, Ahmed Gaber

  • Location: Cairo, Egypt

  • Latest Funding: Undisclosed Pre-Series B

  • Lead Investor(s): Hassan Allam Holding, Khwarizmi Ventures

Bloom Seed Funding 

Bloom is an artificial intelligence software company that optimizes product photography using a single line of code. The powerful software enables e-commerce brands to track consumer behavior on-site and increase conversions by surfacing the most compelling and personalized images as possible. With the seed funding of $1.1M to fuel its launch, the company hopes to become an essential layer in the e-commerce tech stack. 

  • Year Founded: 2021

  • Founder(s): Aarlo Stone Fish, Sam Dundas

  • Location: New York, United States 

  • Latest Funding: $1.1M Seed Funding

  • Lead Investor(s): Inovia, AIX Ventures

Wasoko Series B Funding 

Wasoko, formerly known as Sokowatch, is a Kenyan startup that is leveraging technology to revolutionize the informal retail supply chain. After raising $125M in what it claims to be the largest non-fintech venture round in the region, the company is now targeting further expansion and growth. Alongside the new funding, Wasoko also revealed its launch in a number of West African locations, namely Abidjan, Côte d’Ivoire and Dakar, Senegal.

  • Year Founded: 2013

  • Founder(s): Daniel Yu

  • Location: Nairobi, Kenya

  • Latest Funding: $125M Series B

  • Lead Investor(s): Tiger Global

A huge congratulations to all and we are looking forward to witnessing your growth in the months to come!

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