Funding Roundup: Ninjacart, FloorFund, Topship and Others Secure Funding
It has been another great 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 spectacular achievements:
FloorFound Series A Funding
Founded in 2020, FloorFound is a software startup that helps manage the return and sale process for online retailers. Having raised $4M in seed funding just last year, the Austin-based company is back again with a $10.25M Series A. As reported by TechCrunch, “Floorfound is the latest to raise funding within a US resale industry, poised to grow over 150% million in the next decade and be valued at $330 billion.”
Year Founded: 2020
Founders: Chris Richter, Ryan Matthews
Location: Austin, United States
Latest Funding: $10.5M Series A
Lead Investors: Next Coast Ventures, LiveOak
Fashinza Series B Funding
Fashinza is a business-to-business (B2B) supply chain marketplace that is reshaping the future of the fashion industry. With artificial intelligence at its core, Fashinza offers manufacturing as a service to help apparel brands overcome the many challenges unique to their sector. Following its $100M Series B, the company is looking to refine its supply chain technology and expand into new markets.
Year Founded: 2020
Founders: Abhishek Sharma, Jamil Ahmad, Pawan Gupta
Location: Gurgaon, India
Latest Funding: $100M Series B
Lead Investors: Prosus Ventures, Westbridge
Keelvar Series B Funding
Keelvar, an Irish automation software firm, has secured $24M in a recent Series B led by venture capital firm 83North. Also participating in the round were Elephant, Mosaic Ventures, and Paua Ventures, bringing Keelvar’s total raise to $43M. The company plans to use the fresh funding to scale further in the United States, where it says “the demand for intelligent sourcing options is rapidly increasing”.
Year Founded: 2012
Founders: Alan Holland
Location: Cork, Ireland
Latest Funding: $24M Series B
Lead Investors: 83North
Topship Seed Funding
Topship is a logistics startup that was founded in response to a growing need for shipping parcels and cargo outside of Nigeria. With the $2.5M raised from the Flexport-backed seed round, Topship will “improve its asset-light technology and build out a proprietary global shipping infrastructure.” The Lagos-based company has also set aside a portion of its capital to support local fashion brands in Nigeria.
Year Founded: 2020
Founders: Junaid Babatunde, Moses Enenwali
Location: Lagos, Nigeria
Latest Funding: $2.5M Seed
Lead Investors: Flexport
Ninjacart Series D Funding
Ninjacart is India’s largest fresh produce supply chain platform that is bridging the gap between the food distribution market and technology. The company currently operates in seven cities in India, offering fresh fruits and vegetables to retailers, hotels, restaurants and apartment complexes. According to regulatory filings sourced by ETtech, Ninjacart has bagged $9M in the latest financing round from South Korea-based STIC Investment.
Year Founded: 2015
Founders: Ashutosh Vikram, Kartheeswaran KK, Sachin Jose, Sharath Loganathan, Thirukumaran Nagarajan, Vasudevan Chinnathambi
Location: Bengaluru, India
Latest Funding: $9M Series D
Lead Investors: STIC Investment
Because Intelligence Seed Funding
Because Intelligence is a startup known for its “no-code software connecting disparate data sources to automate high volumes of website updates.” The Tampa-based company provides a “Canva-like” editing experience for e-commerce professionals, helping them save a dozen to hundreds of hours every month. Now armed a new infusion of $3M seed, Because will be ramping up its product development and recruitment efforts.
Year Founded: 2020
Founders: Ashland Stansbury
Location: Boston, Massachusetts
Latest Funding: $3M Seed
Lead Investors: Harlem Capital
A huge congratulations to all the companies mentioned and we are looking forward to witnessing your growth in the months to come!
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