Dropit, a London, UK-based omnichannel retail technology company, raised $25M in Series C funding.
The round was led by Vault Investments, with participation form Tiga Investments, Axentia, and Sugarbee.
The company intends to use the funds to bolster its go-to-market capabilities, extending its U.S. sales office in Austin, Texas, grow its team to over 100 employees and add key hires for open positions across 12 states to support both brand and mall partners.
Led by Karin Cabili, CEO and Founder, Dropit is an omnichannel retail technology company that unifies brands’ physical and online inventories and distribution channels through sourcing, allocation, fulfillment and last-mile distribution solutions that can be integrated directly into brands’ existing fulfillment management systems. With the company, brands can sell in-store inventory online, transform physical locations into last-mile distribution points and source orders to locations closest to the customer, thereby reducing the environmental impact of last-mile delivery. In relevant marketplaces, Dropit consolidates multi-brand orders, enhancing the customer experience by allowing them to receive their purchases in single shipment or on-site pick-up that decreases packaging waste and emissions.
The company is also behind PRIMARCHÉ, a multi-mall, multi-brand marketplace, to connect Canada-based stores and brands into a one-stop-shop that mirrors the in-person mall experience online, the first to allow shoppers consolidated delivery from multiple stores in a single mall, and allowing mall operators a foothold in the eCommerce marketplace.
FinSMEs
04/11/2022