Including Circ, Mesh, and Thanks: six retail technology funding rounds you need to know about
The world of retail technology is constantly evolving, with companies continually seeking innovative solutions to streamline processes and enhance customer experiences. Here, we highlight six retail technology ventures that have recently secured significant investments, underscoring the dynamic landscape of the industry, including breakthroughs in textile recycling, e-commerce optimization, and global payment networks.
1. Platter
Platter, an e-commerce technology startup, has successfully raised $1.6 million in a pre-seed round of funding. Leading the investment was Animal Capital, with participation from Visionary Ventures and notable e-commerce veterans such as Ben Jabbawy, Kyle Hency, Aaron Spivak, and Pierson Krass.
Founded in 2021 by Ben Sharf, Kieran Derfus, and Michael Keenehan, Platter emerged from a recognition of the common challenges faced by brands in building high-converting Shopify websites. The complexity, expense, and time consumption associated with this task were hurdles they set out to overcome. Initially known for constructing entire storefronts for Shopify brands, Platter has now launched Platter+, a tool available in the Shopify app store. This technology allows brands to quickly implement product upsells, cross-sells, and social proof at checkout and post-purchase stages.
“Ben Sharf and the Platter team have thoughtfully created a holistic product offering for e-commerce businesses that makes it simpler, easier, and more intuitive to manage your storefront and maximise profitability,” comments Marshall Sandman, Managing Partner at Animal Capital.
2. Circ
Circ, a pioneer in textile-to-textile recycling, has closed a substantial investment round of $25 million, led by Taranis through its Carbon Ventures fund. The round also saw continued support from existing strategic investors, including fashion giant Inditex and Avery Dennison.
With this funding, Circ has raised over $100 million to date, setting the stage for scaling textile recycling efforts to an industrial level. Peter Majeranowski, CEO at Circ, emphasizes the significance of strategic investments in achieving their mission: “This chapter of our journey requires that we build on our proven technology with world-class engineering, operations, and strategic investment from mission-aligned partners. Taranis brings exactly that, positioning Circ to accelerate the transition to a circular fashion economy.”
3. Thanks
Thanks, an ad network specialist, has announced the successful acquisition of $2.6 million in seed funding, supported by venture firms such as Peak XV Partners, Founder Collective, and Side Stage Ventures. Simultaneously, the company has secured multinational partnerships with major players like eBay and Zip.
Co-CEO and Co-founder Steven Tesoriero highlights the driving philosophy behind Thanks: “We believe the relationship between advertisers and customers should be rewarding, but it must be delivered in a way that respects the customer and adds value to their day.”
Amanda Herson, General Partner at Founder Collective, adds, “Acquisition is broken – retention is everything! Customers want to feel valued when they buy, which is why brands like Sezzle and eBay partner with Thanks. We back founders, not just ideas, and I’m incredibly impressed by Thanks’ vision to scale while keeping customer delight and brand authenticity at the core.”
Since its inception in 2022, Thanks has expanded its reach across APAC, the US, and the UK, establishing partnerships with a network of retail marketplaces, ticketing platforms, and e-commerce brands worldwide.
These innovative ventures underscore the significant strides being made in the retail technology sector, punctuated by strategic investments and partnerships that look set to define the future of the industry. As these companies leverage their funding to enhance and expand their offerings, they are likely to play pivotal roles in shaping the future of retail shopping experiences worldwide.
