five retail technology funding rounds you need to know about – Retail Technology Innovation Hub

RTIH highlights five retail systems ventures that have recently secured significant investments in their businesses, including a frozen and refrigerated shipping logistics platform, an AI-powered recommendation and search offering for marketplaces, e-commerce and content companies, and a smart supermarket specialist.

1. Cold cart

Cold cartfrozen and refrigerated shipping logistics platform, raised oversubscribed seed funding of $6.5 million.

The round was led by Collide Capital and includes prior convertible bond investments led by Material. Great North Ventures, Behind Genius Ventures, Feld Ventures, Alumni Ventures and Service Provider Capital also participated.

With this new funding, Coldcart plans to expand its base of perishable goods carriers and logistics providers.

The company is founded by CEO Jason Park, who previously founded and grew Allstate Identity Protection from zero to $100 million ARR, and Blue Apron founder and former CEO Matt Salzberg.

Early backers include the founders, executives, and management team of Marley Spoon, Home Chef, Y Combinator, and Bain & Company.

“Shipping perishables is a uniquely complex problem that requires a uniquely experienced team,” says Aaron Samuels, Managing Partner of Collide Capital, who has joined Coldcart’s board.

The startup team also includes early ShipBob employees and a former pharmaceutical company executive.

2.Koszt.com

Basket.comprovider of unified trading and logistics solutions, has secured a $105 million term loan from funds and accounts managed by BlackRock. The company said the latest facility, among other things, consolidates its venture debt on competitive terms.

“Cart.com is one of the fastest growing commerce and logistics solutions providers today, and I’m excited to partner with BlackRock as we continue to actively invest in helping our customers operate more efficiently,” said Founder and CEO Omair Tariq.

“This latest facility allows us to continue to expand into new markets while enhancing our innovative technology solutions, particularly our Constellation OMS offering. It also highlights the continued work of our teams to drive operational excellence and profitability as we continue to partner with increasingly large customers across a variety of industries.”

Cart.com offers a suite of technologically advanced logistics solutions, enterprise-class channel and order management software, and expert services.

It serves over 6,000 customers and 75 million orders annually, operating 14 multi-channel fulfillment centers across the United States.

The capital follows the closing of a $25 million Series C extension round, bringing the company’s total Series C funding to $85 million at a valuation of $1.2 billion.