Funding Roundup: Everstream, Floodlight, Razor Group and Others Secure Fresh Funds
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:
Evermile Seed Funding
UK-based startup Evermile has raised $6M in a seed funding round led by 10D to bring enterprise-grade logistics to small businesses. The platform uses an optimization engine to analyze different delivery options and choose the most cost-effective and efficient provider for each delivery task, thereby reducing delivery costs by 30% to 50%. Founded by former Via and Optibus executives, the startup now has over 300 local merchants using its platform.
Year Founded: 2022
Founder(s): Omer Goldschmidt, Omry Hochberg and Ynon Cohen
Location: London, England
Latest Funding: $6M Seed
Lead Investor(s): 10D
Venti Technologies Series A Funding
Autonomous logistics firm Venti Technologies closed a $28.8M Series A featuring LG Technology Ventures as its lead investor. Founded in 2018, Venti Technologies develops industrial-grade precision technology that can be quickly deployed and offers high safety and operational efficiency. The funds will be used to expand its growth and meet the increasing demand for its autonomous logistics solutions in the global supply chain and industrial yards.
Year Founded: 2018
Founder(s): Daniela Rus, Heidi Wyle, Saman Amarasinghe and Xinxin Du
Location: Weston, United States
Latest Funding: $28.8M Series A
Lead Investor(s): LG Technology Ventures
Floodlight Seed Funding
Floodlight, a smart business account for e-commerce, secured $6.4M in seed funding to help small and medium-sized online businesses connect financial platforms into one dashboard to manage their finances more efficiently. Led by Aleph and 83North, the round saw contributions from several individuals including former Shutterfly CEO and Amazon UK Managing Director Christopher North and Juan Lobato, Founder and CEO of Ebury.
Year Founded: 2021
Founder(s): Noam Bernstein and Oded Blayer
Location: London, England
Latest Funding: $6.4M Seed
Lead Investor(s): Aleph and 83North
Razor Group Series C Funding
Europe’s leading e-commerce aggregator Razor Group announced the closing of $88M Series C, along with the acquisition of competitor Stryze Group in a bid to become the “consolidator of consolidators”. As per reports, the company is looking to expand more rapidly and extensively into new regions and product categories where it already has a foothold. Furthermore, it also intends to diversify its business on Amazon by exploring additional regional channels.
Year Founded: 2020
Founder(s): Christoph Gamon, Dr. Oliver Dlugosch, Shrestha Chowdhury and Tushar Ahluwalia
Location: Berlin, Germany
Latest Funding: $88M Series C
Lead Investor(s): Upper90
Everstream Analytics Series B Funding
Everstream Analytics, a company that provides predictive insights for supply chains, raised $50M in its latest Series B. The fresh capital will help accelerate product development, along with its hiring and customer success efforts. According to Everstream’s CEO Julie Gerdeman, the team has achieved many significant milestones, such as increasing its revenue 30-fold from the initial investment made three years ago and doubling its business in both 2021 and 2022.
Year Founded: 2012
Founder(s): Christopher Arroyo and David Shillingford
Location: San Marcos, United States
Latest Funding: $50M Series B
Lead Investor(s): Morgan Stanley's 1GT Fund
JSW One Platforms Series A Funding
JSW One Platforms, the B2B e-commerce venture of Indian conglomerate JSW Group, bagged $25M in its most recent Series A round. The company plans to utilize the funds to boost its market presence while simultaneously improving its technological capabilities, with a focus on investing in its credit, logistics and technology stack. “We also look forward to bringing other industry segments onto the platform and will continue to leverage technology to be an industry-leading platform for MSMEs," said Gaurav Sachdeva, CEO of JSW One Platforms
Year Founded: 2020
Founder(s): Sajjan Jindal
Location: Mumbai, India
Latest Funding: $25M Series A
Lead Investor(s): Mitsui & Co.
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