The Rounds, a NYC-based provider of an inventory management platform that delivers recurring grocery and household essentials in reusable packaging, raised $24M in Series B funding.
The round was led by Moderne Ventures, with participation from FJ Labs and existing investors,
The company intends to use the funds to scale its AI-powered service, strategically focusing on profitable growth in existing markets, expanding its team across machine learning, data science, and executive leadership, and launching new markets.
Led by CEO Alex Torrey, The Rounds provides an AI-driven shopping platform designed to intelligently manage home essentials and reduce packaging waste. Members can automate the delivery and replenishment of thousands of grocery SKUs in categories including household, personal care, pantry, produce, dairy, and dry goods, along with favorites from local brands and businesses. All products are delivered in reusable packaging and empty containers are picked up, sanitized, and refilled by The Rounds weekly, leveraging their proprietary two-way logistics network. Its personalized platform allows for predictive recurring deliveries and smarter product recommendations over time.
Launched in 2019, the company has expanded to service Philadelphia, Washington D.C., and Atlanta.
FinSMEs
22/08/2024