Funding Roundup: Exceptional Wins for Jet Commerce, MetalBook, Wayflyer and Others

Sep 02, 2022

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:

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PriceOye Seed Funding 

Pakistan-based startup, PriceOye, has raised $7.9M in a Seed round led by Jam Fund. Founded in 2015, PriceOye is a marketplace for authentic and original consumer electronics that can give recommendations to buyers based on their requirements. The firm plans to use the fresh funding to acquire more customers, add new products, and expand its network of partners.

  • Year Founded: 2015

  • Founders: Adeel Shaffi, Adnan Shaffi 

  • Location: Islamabad, Pakistan

  • Latest Funding: $7.9M Seed

  • Lead Investors: JAM Fund

Highbeam Seed Funding 

Highbeam, a neobank built for people building e-commerce brands on marketplaces, has secured $7M in Seed funding round. Based in New York, HIghbeam offers an automated finance platform for ecommerce businesses to understand, fund and grow their business. The newly raised capital will be channeled to continue developing banking tools that cater to their growing pool of entrepreneurs’ needs.

  • Year Founded: 2021

  • Founders: Gautam Gupta, Samir Shergill

  • Location: New York, United States

  • Latest Funding: $7M Seed

  • Lead Investors: FirstMark, Mayfield

Metalbook Seed Funding 

Metal industry-focused SaaS startup Metalbook has raised $5M in its Seed round led by Axilor Ventures. Founded in 2021, Metalbook is a full-stack digital supply-chain platform which provides the best fabrication and inventory holding services in the market. The company plans to leverage the funds to scale to new markets, strengthen its global network of processing centres, expand the team and enhance its cloud manufacturing platform. 

  • Year Founded: 2021 

  • Founders: Pulkit Baldev, Aman Tibrewal, Raghavendra Pratap Singh

  • Location: Delhi, India

  • Latest Funding: $5M Seed

  • Lead Investors: Axilor Ventures. Foundamental, RTP Global, Stride Ventures

Jet Commerce Series B Funding 

Jet Commerce, a one-stop service provider for brand e-commerce focusing on emerging markets, officially announced the completion of $60M in Series B financing. The funds will be injected to upgrade operational infrastructure, strengthen its Multi Channel Network operations, improve digital management and research and development of SaaS systems, and enhance its professional brand incubation ability.

  • Year Founded: 2017

  • Founders: Oliver Yang

  • Location: Singapore

  • Latest Funding: $60M Series B

  • Lead Investors: Jinqiu Capital, Hidden Hill Capital, Zhejiang SilkRoad Fund

Motatos Series D Funding 

Swedish-based D2C sustainable e-commerce business, Motatos, has just raised $38M in Series D funds. Launched in 2013, Motatos sells groceries online, helping the big producers of FMCG offload surplus inventory, reduce food wastage whilst providing these businesses with sustainable income. The new funding will help to accelerate growth in key markets Germany and the UK as well as aid the development of the business model and customer offer across all markets.

  • Year Founded: 2013

  • Founders: Karl Andersson

  • Location: Copenhagen, Denmark

  • Latest Funding: $38M Series D

  • Lead Investors: SEB, VC Exor Capital

Wayflyer Debt Funding 

The Dublin-based unicorn firm Wayflyer has raised $253M in new debt financing as it seeks to continue its expansion. Wayflyer loans working capital to e-commerce businesses to aid them in inventory management and advertising, which is then repaid as a percentage of the merchant's daily sales revenue. Since its start in 2020, the firm has helped more than 1,000 businesses using analytics to assess funding requests for applicants and providing funding within 48 hours.

  • Year Founded: 2020

  • Founders: Aidan Corbett, Jack Pierce

  • Location: Dublin, Ireland

  • Latest Funding: $232M Debt Financing

  • Lead Investors: Credit Suisse

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