Funding Roundup: Early-Stage Funding Raised by Eurora, GenieMode, Pyka and Others

Apr 29, 2022

It has been a phenomenal 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 outstanding achievements:

Outfund Series A Funding

Outfund is a UK-based company that offers an alternative financing channel to e-commerce businesses. As opposed to traditional business loans, Outfund takes a “considered” lending approach where the repayment timeline for each company varies depending on its circumstances. Earlier this week, the revenue-based finance provider closed a £115M Series A to support over 5000 businesses in the next 12 months, and also increase its lending limit to £10M per firm.

  • Year Founded: 2018

  • Founders: Daniel Lipinski

  • Location: London, United Kingdom 

  • Latest Funding: £115M Series A

  • Lead Investors: Force Over Mass, Post Finance, 1818 Venture Capital, Tribe Capital

  • Did you know that 59% of shoppers would buy more for free shipping?
    Sign up now to unlock all our data-driven reports!

Eurora Series A Funding

Eurora is a cross-border e-commerce compliance platform that is backed by Artificial Intelligence and Machine Learning. Launched just 4 years ago, the startup already has over 200 clients worldwide and is able to process 5000 requests a second with up to 96% accuracy. With $40M raised from the recent Series A, Eurora is looking to expand operations into the UK, US, and Middle East.

  • Year Founded: 2018

  • Founders: Marko Lastik

  • Location: Tallinn, Estonia

  • Latest Funding: $40M Series A 

  • Lead Investors: Connected Capital

Pyka Series A Funding

Pyka is an electric autonomous airplane manufacturer defining the future of fast, environmentally-friendly and accessible transportation. Through its ecosystem of technologies, Pyka plans on supplying its electric aircrafts to every sector that can benefit from electric aircrafts through its ecosystem of technologies. The $37M from its latest round of financing will largely go toward enhancing manufacturing capabilities, thus allowing Pika to work on a new cargo-carrying variant of the Pelican.

  • Year Founded: 2017

  • Founders: Chuma Ogunwole, Kyle Moore, Michael Norcia, Nathan White 

  • Location: Oakland, United States

  • Latest Funding: $37M Series A

  • Lead Investors: Piva Capital, Prelude Ventures 

Arrow Seed Funding

Arrow, a Singaporean e-commerce solutions provider, has raised $4.8M seed funding led by Sequoia Capital India. With a particular focus on FMCG and other discretionary goods and services, Arrow is now used by 100 merchants and supports more than 50 payment methods including all the major ones in Singapore, Malaysia and Indonesia such as Atome, Boost and GrabPay. 

  • Year Founded: 2020

  • Founders: Liat Beng Neo, Sebastian Roervig, Sudhan Raj

  • Location: Singapore, Singapore

  • Latest Funding:$4.8M Seed

  • Lead Investors: Sequoia Capital India

OnePort 365 Seed Funding

OnePort 365 is a digital freight management firm connecting Africa to global trade. Powered by a great team and proactive culture, the Nigerian startup leverages cutting-edge technology to simplify freight forwarding for the region’s traders, while simultaneously improving transparency, visibility and control of the supply chain process. The company plans to use the $5M seed for its venture into “three major hubs” across the continent as well as to ramp up its recruitment and tech developments.

  • Year Founded: 2016

  • Founders: Hio Sola-Usidame 

  • Location: Lagos, Nigeria

  • Latest Funding: $5M Seed

  • Lead Investors: Mobility 54

GenieMode Series B Funding

Based in Gurugram, GenieMode is a B2B e-commerce startup that is transforming global sourcing for retailers and brands. Just four months after its Series A, the company has announced a $27.5M Series B featuring Tiger Global as its lead investor, along with its existing backer Info Edge Ventures. According to the CEO and Co-Founder Amit Sharma, the fresh capital will help strengthen its supply base across Southeast Asia and also penetrate deeper in key international markets.

  • Year Founded: 2021

  • Founders: Amit Sharma, Tanuj Gangwani

  • Location: Gurugram, India

  • Latest Funding: $27.5M Series B

  • Lead Investors: Tiger Global

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

For more exclusive reports, insights, and interviews on the latest updates in e-commerce and logistics, follow us on LinkedIn or join our community as a member.

Share this with your network

Also worth your time

Follow us on LinkedIn
Stay connected with us

Track your parcel here

More discoveries

Funding Roundup: Bizongo, Homzmart, Vetted and Others Secured Early-Stage Deals

Aug 05, 2022

How Peak Season 2022 in Europe Might Look Like

Aug 05, 2022

TechCrunch: Shopify Invests $100 Million in a Marketing Automation Startup, Klaviyo

Aug 05, 2022

ITLN: Xpressbees Names Suraj Bangera as Senior Vice President of Cross-Border Business

Aug 04, 2022

Retail Dive: Amazon Launches Same-Day Shipping for Pacsun, GNC, SuperDry, and Diesel Customers

Aug 03, 2022

E-Commerce Logistics Race in Europe: Which Country Performed the Best in Q1 2022?

Aug 02, 2022

Supply Chain Dive: OnTrac and LaserShip Introduce Transcontinental Delivery Service to Prepare for Peak Season

Aug 02, 2022

Alcott Global Podcast: Importance of Supply Chain in Stationery Industry

Aug 01, 2022

Guest Post: 10 Ways Retailers Can Inspire Customers During Peak Season

Aug 01, 2022

Funding Roundup: Early Funding Rounds Secured by Cartona, DealCart and Others

Jul 29, 2022

Vogue: Glossier Launches into Wholesale Partnership with Sephora

Jul 29, 2022

E-Commerce Logistics Race 2022: Canada vs the United States

Jul 28, 2022

Macau Business: DHL Express Names Phil Corcoran as Australia’s Managing Director

Jul 28, 2022

Top E-Commerce Retailers in the United States 2022

Jul 27, 2022

Logistics Manager: InPost Now Has 4000 Parcel Lockers in the UK

Jul 27, 2022

Marketing Interactive: L'Oréal Appoints Kenny Ng as Regional E-Commerce Director

Jul 26, 2022

Guest Post: Why Logistics and Supply Chain Management Is Important

Jul 26, 2022

Guest Post: 7 Customer Retention Metrics That Allow You to Measure Customer Loyalty

Jul 25, 2022

Alcott Global Podcast: Revolutionizing Offshore Logistics

Jul 25, 2022

Guest Post: Top Trends in Logistics Technology to Watch

Jul 22, 2022

Funding Roundup: SupplyPike, Syrius Robotics Raised Series B Funds and More

Jul 22, 2022

Fibre2Fashion: Ceva Logistics Expands to Africa with Spedag Interfreight Acquisition

Jul 22, 2022

TechCrunch: Youtube Partners with Shopify to Boost Social Commerce Offerings

Jul 21, 2022

Top E-Commerce Retailers in Europe 2022

Jul 21, 2022

Guest Post: Essential E-Commerce Marketing Tips for Summer

Jul 20, 2022