Funding Roundup: Tradeshift, Trove, CargoStream and Others Achieve Fresh Capital
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:
Trove Series E Funding
Trove, a resale technology company, focuses on environmental sustainability, offering resale services to brands and retailers, and tapping into the projected growth of the global resale market. Trove aims to resell "tens of millions of items" by 2025 as it expands its logistics and operations facilities. With $30M secured from a Series E funding led by Wellington Management and ArcTern Ventures, the funding will drive expansion into new areas and Trove Recommerce facilities to accommodate rising demand.
Year Founded: 2012
Founder(s): Andy Ruben
Location: California, United States
Latest Funding: $30M Series E Funding
Lead Investor(s): Wellington Management and ArcTern Ventures
Cargo Stream Funding
UK-based logistics management platform Cargo Stream raised $1M in funding led by LitCapital. Cargo Stream offers a cloud-based platform that automates and streamlines the logistics process, enhancing operational efficiency and cost optimization for freight forwarders. The fresh funding will support the company's expansion plans in the Polish market and strengthen operations in the United Kingdom.
Year Founded: 2019
Founder(s): Sarunas Belickas
Location: Birmingham, England
Latest Funding: €1M
Lead Investor(s): LitCapital
Tradeshift Funding
Tradeshift, a platform for B2B payments, supply chain procurement, and marketplace services has raised $70M in a funding round led by HSBC. Despite challenges in the B2B sector due to economic pressures and pandemic effects, Tradeshift aims to enhance global trade and financial services integration. The funding will be used to scale the business network, add more SaaS, B2B marketplace, and embedded financial services, and potentially make acquisitions.
Year Founded: 2009
Founder(s): Christian Laang, Gert Sylvest and Mikkel Hippe Brun
Location: California, United States
Latest Funding: $70M
Lead Investor(s): HSBC
In-Seam Pre-Seed Funding
Based in the United States, In-Seam offers a sourcing platform that connects luxury designers with private clients through a network of personal shoppers and stylists, enhancing sales transactions. The company enables personal shoppers to manage client relationships while allowing brands to enhance brand awareness and loyalty. In a recent pre-seed funding led by Far Out Ventures, In-Seam has secured $2M to support its tech development, partnerships, and growth, aiming to streamline client orders through the platform.
Year Founded: 2020
Founder(s): Ann McNeill Wehren
Location: New York, United States
Latest Funding: $2M
Lead Investor(s): Far Out Ventures
Swotzy Pre-Seed Funding
Swotzy, a last-mile logistics provider based from Latvia, aims to enhance shipping cost savings and offer delivery performance insights. They recently secured €500K in a pre-seed funding round led by Black Pearls VC, where the funding will be used for product development and establish a presence in the Baltic market. Despite a competitive and changing landscape, the funding reflects investor recognition of the company's valuable solutions and growth potential.
Year Founded: 2022
Founder(s): Lauris Rutkis, Kristians Jenčiuss and Jēkabs Hincenbergs
Location: Riga, Latvia
Latest Funding: €500K
Lead Investor(s): Black Pearls VC
ShipCalm Funding
E-commerce fulfillment and third–party logistics provider Shipcalm offers a SaaS AI platform and professional services to help digitally native brands manage their omni-channel operations efficiently. ShipCalm aims to be a significant player for SMBs, having achieved rapid revenue growth of over 40% in Q2 2023. Securing $2M in funding from Montage Capital, the fresh capital will aid ShipCalm's expansion into new territories, support SMBs in solving operational challenges, and create around 30 new positions in technology, sales, marketing, and operations.
Year Founded: 2017
Founder(s): Ted Fogliani and Greg Moser
Location: California, United States
Latest Funding: $2M
Lead Investor(s): Montage Capital
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