Funding Roundup: Altana, Carbon6, Euler Motors and Others Raise Fresh Capital
It has been an amazing week for startups in the e-commerce, logistics and supply chain space. In this week’s Ecosystem Funding Roundup, we are thrilled to feature 6 of their notable achievements:
Carbon6 Series A Funding
Carbon6 Technologies is a leading software suite that simplifies operational success for online sellers on the Amazon marketplace. Since its launch in April 2021, the Toronto-based startup has made significant progress, acquiring 16 software companies and over 200,000 active users on its platform. In fact, the company just received a boost from $16M in Series A funding, most of which will be used for expansion into Europe and Asia.
Year Founded: 2021
Founders: Kazi Ahmed, Justin Cobb and Naseem Saloojee
Location: Toronto, Canada
Latest Funding: $66M Series A
Lead Investors: White Star Capital
Euler Motors Series C Funding
Commercial electric vehicle-maker Euler Motors has secured $60M in the latest Series C led by Singapore’s sovereign fund GIC. “Our vision is to not only develop industry-leading products but also the ecosystem to support the EV transition,” said Saurav Kumar, Founder & CEO of the Indian startup. “This investment will fuel our ambition to establish Euler Motors as a frontrunner to drive electrification of commercial mobility in India by scaling our manufacturing capacity, expanding distribution footprint and strengthening the team to deliver delightful experiences to our customers.”
Year Founded: 2018
Founders: Saurav Kumar
Location: New Delhi, India
Latest Funding: $60M Series C
Lead Investors: GIC
Gather AI Series A Funding
Gather AI is a supply chain robotics company that is striving to solve the problem of misplaced inventory in warehouses through the use of autonomous drones, coupled with its sophisticated AI-driven software. The Pittsburgh-based startup is now one step closer to its goal following its recent $10MSeries A acquisition that brought its total raise to a whopping $17M. According to CEO Sankalp Arora, the proceeds will support the continued development of the real-time inventory visibility platform, and also accelerate its go-to-market strategy.
Year Founded: 2019
Founders: Sankalp Arora, Daniel Maturana and Geetesh Dubey
Location: Pittsburgh, United States
Latest Funding: $10M Series A
Lead Investors: Tribeca Venture Partners
Cosmart Seed Funding
Indonesian e-commerce platform Cosmart has raised $5M in a seed round from Lightspeed Venture Partners, East Ventures and Vertex Ventures. Founded in Q2 2022, Cosmart leverages tech and data “to help users save time, money and mental burden in replenishing household needs.” The company will use the fresh capital to strengthen its data capabilities, expand its team, and foster partnerships with key players in the supply chain ecosystem.
Year Founded: 2022
Founders: Alvin Kumarga and Robert Tan
Location: Jakarta, Indonesia
Latest Funding: $5M Seed
Lead Investors: Lightspeed Venture Partners, East Ventures and Vertex Ventures
Altana Series B Funding
Altana is an artificial intelligence(AI)-driven startup that helps organizations make sense of their global supply chains by spotting anomalies and identifying potential risks. According to TechCrunch, the $100M investment from its latest Series B “will fund aggressive platform and product development to empower the world’s governments, logistics providers and businesses to build trusted supply chain networks on a shared source of truth.
Year Founded: 2018
Founders: Evan Smith, Raphael Tehranian, Peter Swartz and Alan Bersin
Location: NewYork, United States
Latest Funding: $100M Series B
Lead Investors: Activate Capital
The Rounds Series A Funding
Philadelphia’s delivery startup The Rounds has completed a $38MSeries A led by Redpoint Ventures and Andreessen Horowitz. The company’s vision is to “create the most efficient, scheduled, last-mile logistics network and the only optimized closed-loop supply chain”, allowing consumers to shop for products across different categories. At a subscription rate of $10 per month, members can make better estimates about their restocking needs with no extra fees or tipping required for deliveries.
Year Founded: 2019
Founders: Alex Torrey and Byungwoo Ko
Location: Philadelphia, United States
Latest Funding: $38M Series A
Lead Investors: Redpoint Ventures, Andreessen Horowitz
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