Funding Roundup: Major Wins for CleverTap, LOCAD, ReturnLogic and Others
It has been a tremendous 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 amazing achievements:
Convertedin Seed Funding
Convertedin, an Egyptian startup that builds marketing operating systems for e-commerce brands, raised $3M in a seed funding round led by Saudi Arabia's Merak Capital for strategic hiring and further development of its platform. Founded in 2019, Convertedin works directly with brands in unifying data to unlock value and create more efficient marketing strategies.
Year Founded: 2019
Founders: Mohamed Fergany, Mohamed Atef, Mustafa Raslan
Location: Delaware, United States
Latest Funding: $3M Seed
Lead Investors: Merak Capital
CleverTap Series D Funding
The leading global B2B SaaS platform for customer engagement and retention, CleverTap, has closed $105M in Series D funding. CleverTap’s platform leverages machine learning and artificial intelligence to offer a comprehensive user engagement suite that enables brands to build valuable, long-term relationships with their customers. The fresh funds will be utilized to expand its global footprint and expand the team and capabilities to support its growth.
Year Founded: 2013
Founders: Anand Jain, Sunil Thomas, Suresh Kondamudi
Location: Mountain View, United States
Latest Funding: $105M Series D
Lead Investors: Caisse de dépôt et placement du Québec (CDPQ)
ReturnLogic Series A Funding
A leader in returns management software (SaaS) solutions for e-commerce brands and retailers, ReturnLogic, bagged $8.5M in Series A funding to increase its workforce and enhance its API offerings and lean into its sales model. Established in 2015, ReturnLogic’s unique SaaS platform powers return workflows and operations, unifying reverse logistics technology solutions into a single, integrated platform.
Year Founded: 2015
Founders: Peter Sobotta
Location: Pennsylvania, United States
Latest Funding: $8.5M Series A
Lead Investors: Mercury
Geek+ Series E1 Funding
Warehouse automation vendor Geek+ raised $100M in Series E1 financing round. As the leading logistics robot enterprise, Geek+ helms a rich robot product line that covers broad capabilities for storage, sorting and sorting in warehousing scenarios. With the new capital, the company strives to accelerate its global market expansion and invest in the research and development of its autonomous mobile robot (AMR) technology.
Year Founded: 2015
Founders: Yong Zheng, Hongbo Li, Kai Liu, Xi Chen
Location: San Diego, United States
Latest Funding: $100m Series E1
Lead Investors: Intel Capital, Vertex Growth, Qingyue Capital Investment
Miferia Seed Funding
Miferia, a Mexico-based provider of an online wholesale marketplace, raised $7M in Seed funding co-led by Bain Capital Ventures and Tiger Global. Launched in 2022, Miferia’s platform enables retailers to bring their inventory relationships online, expand their product selection and get more favorable credit terms. The fresh funds will be channeled to accelerate growth and expand operations in Latin America.
Year Founded: 2022
Founders: Tariq Musa
Location: Mexico City, South America
Latest Funding: $7M Seed
Lead Investors: Bain Capital Ventures, Tiger Global
LOCAD Series A Funding
Singapore-based logistics and supply chain management integrator for cross-border e-commerce, LOCAD, received $7.9M in Series A investment round. LOCAD is Asia Pacific’s first end-to-end fulfillment service for e-commerce that combines an integrated technology platform with a network of warehouses and logistics partners. The new capital will be leveraged to expand its operations for fulfillment hubs in Vietnam, Malaysia and Indonesia.
Year Founded: 2020
Founders: Constantin Robertz, Jannis Dargel, Shrey Jain
Location: Singapore
Latest Funding: $7.9M Series A
Lead Investors: Reefknot Investments
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