Daily Grommet, a Lexington, MA-based online shopping site and marketing platform for innovative and undiscovered products, has raised a Series B funding of undisclosed amount.
The round was led by Rakuten, which led a strategic round of investment in Pinterest in May 2012 (read here).
The company intends to use the funding to further expand its e-commerce site and product launch platform.
Launched in 2008 by CEO Jules Pieri in the philosophy of Citizen Commerce, Daily Grommet is an online marketplace and launch platform for not-known utility, style or invention products. It seeks out these products, tests them, and produces a video review of each one telling the story behind its creation. Over 1,000 products and emerging companies have been featured on the site to date.
The investment is aimed to allow Rakuten to advance its sourcing, curation, and storytelling capabilities and deepen consumer connections to its merchant partners.
FinSMEs
17/09/2012