Funding Roundup: Investors Bet Big on BigBasket, Salsify, Waresix and Many More

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 7 of their outstanding achievements:

Tive Series B Funding

Tive, a technology leader in the supply chain and logistics visibility space, has completed a $54M Series B round with AXA Venture Partners as its lead investor. By leveraging its hardware and software to track the conditions of shipments, Tive helps shipping companies and logistics professionals improve the experience of their deliveries by eliminating preventable delays and damage.

• Year Founded: 2015

• Founders: Krenar Komoni

• Location: Massachusetts, United States

• Latest Funding: $54M Series B

• Lead Investors: AXA Venture Partners

RITMO Debt Funding 

RITMO is a fintech startup that offers working capital financing and BNPL (Buy Now, Pay Later) payment options to e-commerce companies. Less than a year after its seed round, RITMO is back again with a $200M debt funding round led by i80 Group and Avellinia Capital. “With this new funding, we aim to help thousands of eCommerce entrepreneurs scale up rapidly and overcome the current supply-chain challenges by providing them with the capital and tools to effectively manage their cash flow cycles,” said the CEO and Co-Founder Raimundo Burguera.

• Year Founded: 2021

• Founders: Iñaki Mediavilla, Iván Peña, Prageet Sharma, Raimundo Burguera 

• Location: Madrid, Spain

• Latest Funding: $200M Debt Funding 

• Lead Investors: i80 Group, Avellinia Capital 

Waresix Series B Funding

Waresix is an Indonesian logistics startup connecting shippers and businesses with available warehouses and transporters across the country. With a focus on first-mile delivery, the company’s network covers 229 cities with close to 54,000 trucks and 431 warehouses under its wing. Earlier this week, it secured $50M in a Tiger Global-backed Series B, bringing its valuation to a whopping $420M.

• Year Founded: 2017

• Founders: Andree Susanto, Edwin Wibowo 

• Location: Jakarta, Indonesia

• Latest Funding: $50M Series B

• Lead Investors: Tiger Global Management

Moot Funding

Moot is an end-to-end e-commerce platform revolutionizing the way brands launch and operate online. In a short span of time, it has established itself as a wider technology group that works with over 50 global brands such as Sports Direct and BET365. Using the $18M raised from its latest financing round, the startup plans to grow both organically and through mergers and acquisitions (M&A).

• Year Founded: 2019

• Founders: Nick Moutter

• Location: Stafford, United Kingdom

• Latest Funding: $18M 

• Lead Investors: Espresso Capital

BigBasket Funding

BigBasket is India’s largest online supermarket that delivers personal and household needs right to the customer’s doorstep. Besides the e-grocery business, the firm also provides logistics instructure to other Tata-owned brands. The $131M injection from its holding company Supermarket Grocery Supplies will allow BigBasket further develop its multi-mode deliveries, which includes the newly-launched one-hour delivery service.

• Year Founded: 2011

• Founders: Abhinay Choudhari, Hari Menon, Vipul Parekh, VS Ramesh, VS Sudhakar

• Location: Bangalore, India

• Latest Funding: $131M 

• Lead Investors: Supermarket Grocery Supplies

Salsify Series F Funding

Salsify is a leading e-commerce solution provider that “empowers brand manufacturers to win on the digital shelf.” Through the combination of Product Experience Management and core commerce capabilities, it helps brands manage sales across multiple channels and marketplaces. Following the recent $200M Series F led by TPG, Salsify will continue its aggressive product innovation and even consider venturing into new geographies. 

• Year Founded: 2012

• Founders: Jason Purcell, Jeremy Redburn, Rob Gonzalez 

• Location: Massachusetts, United States

• Latest Funding: $200M Serie F

• Lead Investors: TPG

Tushop Pre-Seed Funding

Tushop, a Kenyan community group-buying platform for groceries, has received $3M in pre-seed funding from a diverse pool of investors, including DX Ventures, JAM Fund and FirstCheck Africa. Thanks to the fresh capital, Tushop will now be one step closer to fulfilling its mission of making groceries more affordable and accessible to Kenyans, and eventually to all communities across the continent.

• Year Founded: 2021

• Founders: Cathy Chepkemboi

• Location: Nairobi, Kenya

• Latest Funding: $3M Pre-Seed

• Lead Investors: 4DX Ventures

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

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