Funding Roundup: Elyn, Pidge, Vue Storefront and Others Score Early-Stage Capital
It has been a great couple of weeks 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:
Pidge Pre-Series A Funding
Pidge, a logistics SaaS platform that helps businesses manage their logistics operations, has raised $3M pre-Series A led by Mountain Partners. As of today, the startup has enabled over 5 million deliveries and has 400,000+ users with operations in 5 locations across India, namely Delhi, Noida, Faridabad, Gurgaon and Ghaziabad. According to sources, Pidge plans to deploy the fresh funds towards scaling up its offering and expanding to new markets in the near future.
Year Founded: 2019
Founder(s): Ratnesh Verma and Rushil Mohan
Location: Delhi NCR, India
Latest Funding: $3M Pre-Series A
Lead Investor(s): Mountain Partners
Sorted Seed Funding
Founded by Nitin Gupta, Sahil Madan and Milkbasket cofounder Anant Goel, Sorted is an agricultural supply chain firm that provides consumers with fresh fruits and vegetables at a competitive price. Driven by proprietary technology and a network of mom-and-pop stores, the Indian startup has raised over $5M in seed funding to date. Currently operational only in Gurgaon, the team is looking to expand its app to other parts of the NCR in the coming months.
Year Founded: 2022
Founder(s): Anant Goel, Nitin Gupta and Sahil Madan
Location: Gurugram, India
Latest Funding: $5M Seed
Lead Investor(s): Undisclosed
Bazaara Pre-Seed Funding
UAE-based fashion e-commerce startup Bazaara has successfully closed a $230,000 pre-seed round featuring Flat6Labs and several angel investors. Launched in 2021, Bazaara aims to revolutionize the way individuals shop by allowing them to buy and sell pre-loved items in a community setting. Since its inception, the resale fashion app has accumulated over 250,000 listings with a combined value of more than $1.5 million.
Year Founded: 2021
Founder(s): Alyssa Mariano
Location: Dubai, United Arab Emirates
Latest Funding: $230K Pre-Seed
Lead Investor(s): Flat6Labs
COFE Series B Funding
COFE is a data-driven online coffee marketplace that has completed its $15M Series B led by Saudi-focused VC firm Waed Ventures. Having entered the Saudi market in 2020, COFE was recognized by CITC KSA as one of the top 10 most downloaded applications of 2021. Just last year, the company also announced a partnership with the Saudi Coffee Company with a mandate to further develop the coffee industry across the country.
Year Founded: 2018
Founder(s): Ali Al-Ebrahim
Location: Dubai, United Arab Emirates
Latest Funding: $15M Series B
Lead Investor(s): Waed Ventures
Elyn Pre-Seed Funding
Elyn is a leading e-commerce startup that allows online merchants to offer their consumers a try-before-you-buy (TBYB) option. A few weeks ago, the French firm has bagged around $2.6M in pre-seed funding from Sequoia Arc and Headline. “We’re convinced that, just like free returns and free shipping, every major e-commerce brand will offer a TBYB option in the next 12 months,” said Elyn cofounder El Mehdi Hacad.
Year Founded: 2022
Founder(s): Hamza Sentissi and El Mehdi Hachad
Location: Paris, France
Latest Funding: $2.6M Pre-Seed
Lead Investor(s): Sequoia Arc and Headline
Vue Storefront Series A+ Funding
Vue Storefront is a global frontend as a service (FaaS) platform that provides businesses with an e-commerce toolkit to build fast and customizable websites using open-source technologies. Despite the recent slowdown in e-commerce growth, the startup has received $20M in the latest financing round led by Felix Capital, a major e-commerce investor focusing on Europe. Moreover, Vue Storefront is looking to enter the less developed markets in the region as part of its strategy to tap into emerging enterprises.
Year Founded: 2020
Founder(s): Bartłomiej Roszkowski, Filip Rakowski, Patrick Friday
Location: San Francisco, United States
Latest Funding: $20M Series A+
Lead Investor(s): Felix Capital
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