Funding Roundup: Noki Noki, Daydream and Others Successfully Secure Fresh Funding
It has been a great couple of weeks 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:
Finaloop Series A Funding
Real-time e-commerce accounting platform Finaloop earned $35 million in Series A funding. Lead investors in the round were Lightspeed Venture Partners, with participation from Vesey Ventures, Commerce Ventures, and current investors Aleph and Accel. Raising a total of $55 million in funding, the business plans to use the funds to enhance its inventory management and AI-powered e-commerce accounting software automation, as well as to further develop its go-to-market and partner efforts with data-driven marketing agencies and accounting firms.
Year Founded: 2019
Founder(s): Lioran Pinchevski
Location: New York, United States
Latest Funding: US$35M Series A
Lead Investor(s): Lightspeed Venture Partners
Daydream Seed Funding
Daydream, an AI-powered search and discovery platform located in the USA, has secured $50 million in Seed funding. Under the direction of CEO Julie Bornstein, Daydream is developing a completely new platform by utilizing advancements in generative AI, machine learning, and computer vision. It will transform the end-to-end shopping experience, beginning with search and discovery. With the funding, the business hopes to improve its tailored shopping experience, which is made possible by a search engine that makes it easy to locate and discover men's and women's fashion.
Year Founded: 2020
Founder(s): Julie Bornstein
Location: San Francisco, United States
Latest Funding: US$50M Seed Funding
Lead Investor(s): Forerunner Ventures and Index Ventures
Constructor Series B Funding
Constructor is the leading AI-powered product discovery and search engine for enterprise e-commerce companies. The business has secured a $25 million Series B funding, increasing its valuation to $550 million. With this, the business has almost tripled its valuation from its 2021 Series A, raising a total of more than $85 million to date. With this fresh funding, Constructor will maintain its rapid global expansion while stepping up research and product development. It will also use the state-of-the-art clickstream-based AI it invented to enhance e-commerce product discovery.
Year Founded: 2015
Founder(s): Eli Finkelshteyn and Dan McCormick
Location: San Francisco, United States
Latest Funding: US$25M Series B
Lead Investor(s): Sapphire Ventures
Buyandship Series B Funding
Founded in 2014, Buyandship is a Hong Kong-based shipping startup that allows customers to buy products anywhere in the world via big data, social commerce, global price comparison, social commerce, and logistics technology. The business has secured an additional US$6 million led by Altara Ventures. The additional funding will allow Buyandship to grow into new Southeast Asian regions, improve the user experience in product search and purchase, strengthen its AI-enabled price comparison function, and further automate operations.
Year Founded: 2014
Founder(s): Sheldon Li, Wilson Chan, Wong Tsz Ming, and Poon Wing Hang
Location: Tsuen Wan, Hong Kong
Latest Funding: US$6M Series B
Lead Investor(s): Altara Ventures
Droppe Funding
Droppe is a Finland-based B2B distribution platform provider that was founded in 2020. The business offers organizations a platform to find, acquire, and manage supplies for their operations, including safety, paper, workwear, and packaging materials. It helps a wide range of businesses, from regional restaurant and service chains to Europe's light industrial companies, by optimizing the sourcing and ordering procedures and providing value to the procurement, operations, quality, and finance teams. Recently, Droppe has received €3.9 million in funding, which it plans to utilize to grow its operations and its development efforts.
Year Founded: 2020
Founder(s): Johannes Salmisaari and Henrik Helenius
Location: Helsinki, Finland
Latest Funding: €3.9M
Lead Investor(s): OpenOcean
Noki Noki Seed Funding
Noki Noki, a Congolese logistics firm specializing in grocery delivery and shopping services, has secured $3 million in venture capital to expand its operations in current and new markets, including the Democratic Republic of Congo (DRC). Founded by Jonathan Yanghat in 2021, Noki Noki offers services like Noki Food for meal delivery, Noki Drive for grocery shopping, and Noki Pay, an integrated payment gateway. With over 10,000 customers and transactions surpassing $167 million in 2023, the firm aims to become a leader in African last-mile delivery.
Year Founded: 2021
Founder(s): Jonathan Yanghat
Location: Brazzaville, Republic of the Congo
Latest Funding: US$3M Seed Funding
Lead Investor(s): Uma Ventures
