Funding Roundup: Ninjacart, FloorFund, Topship and Others Secure Funding

May 20, 2022

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:

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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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