Funding Roundup: Trigo, Shippeo, Udaan and Others Secure Fresh Capital

Oct 28, 2022

It has been a notable week for startups in the e-commerce, logistics and supply chain space. In this week’s Ecosystem Funding Roundup, we are thrilled to feature 5 of their notable achievements:

Mason Seed Funding

Mason is a California-based startup that offers businesses an Amazon-like selling experience without the exorbitant “Amazon Tax''. With its R&D headquarters in India, the company’s no-code commerce engine allows sellers to “have their D2C storefront ready with a 50% uplift in their margins from day one.” The company hopes to use the seed funding of $7.5M to improve its product capabilities, while simultaneously growing its marketing sales, customer success and partnerships teams.

  • Year Founded: 2020

  • Founder(s): Barada Sahu and Kausambi Manjita

  • Location: Seattle, United States

  • Latest Funding: $7.5M Seed

  • Lead Investor(s): Accel and Ideaspring Capital

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Udaan Debt Funding

Udaan is a business-to-business e-commerce unicorn that has recently completed a fund raise of $120M in convertible notes and debt. Founded in 2016 with a vision to revolutionize the trade ecosystem in India, Udaan is enabling traders, wholesalers, retailers and manufacturers to come together to find clients, suppliers and products across categories. According to analysts, the fresh injection demonstrates the fact that investors are still bullish about the six-year-old company.

  • Year Founded: 2016

  • Founder(s): Sujeet Kumar, Vaibhav Gupta and Amod Malviya

  • Location: Bangalore, India

  • Latest Funding: $120M Debt Round

  • Lead Investor(s): Undisclosed

Trigo Equity Financing

Known for its Amazon-style self-checkout solution “EasyOut”, Trigo has nabbed $100M in a new equity financing round led by Temasek and 83North. Leveraging world-class artificial intelligence and algorithmics, the Israeli computer vision startup builds technology that not only streamlines retail operations but also provides retail insights and prevents shoplifting. Using the latest funding, the company will focus on improving its autonomous retail platform as well as executing a pipeline of contracted stores around the world.

  • Year Founded: 2018

  • Founder(s): Daniel Gabay and Michael Gabay

  • Location: Tel Aviv, Israel

  • Latest Funding: $100M Equity Financing 

  • Lead Investor(s): Temasek and 83North

Shippeo Additional Funding 

Shippeo has raised a record-breaking capital of $40M to accelerate the global expansion of its real-time supply chain visibility platform. The round saw participation from existing investors such as Battery Ventures, Partech and ETF Partners, along with some new additions like LFX Venture Partners and Yamaha Motor Ventures. According to CEO Pierre Khoury, this fundraise will help Shippeo bolster its sound financial position and ramp up its ongoing expansion in North America and Asia-Pacific.

  • Year Founded: 2014

  • Founder(s): Brice Hua, David Barre, Frederic Jouenne, Jean-Bastien Dussart, Jerome Burtin, Lucien Besse, Pierre Khoury, Thibaut Morlot

  • Location: Paris, France

  • Latest Funding: $40M Additional Financing

  • Lead Investor(s): Undisclosed

Reap Series A Funding 

Reap is a Hong Kong-based fintech firm that provides businesses with digital financial services, ranging from online payments to expense management. Following the recent $40M Series A, the company is looking to set up regional hubs around the world, as well as double its team by the end of 2023. Moreover, it will also continue developing its Web3 infrastructure in partnership with cryptocurrency firms to make these digital payment services more accessible for traditional retailers.

  • Year Founded: 2018

  • Founder(s): ​​Darren Guo and Kevin Kang

  • Location: Hong Kong Island, Hong Kong

  • Latest Funding: $40M Series A

  • Lead Investor(s): Acorn Pacific Ventures

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