7 Retail Tech Funding Rounds to Know About — Retail Tech Innovation Hub

3. Swapple

Travel paytech company Swiipr has secured $6 million in Series A funding led by Octopus Ventures, building on approximately $1 million in seed funding.

Swiipr was launched in 2020 and is used by 26 airlines in 70 countries.

It is estimated that over 500 million passengers worldwide are affected by flight disruptions each year, forcing airlines to pay out billions of dollars, as well as suffering significant customer dissatisfaction, reputational damage and regulatory fines.

Paper vouchers in particular are notoriously slow to process and issue, prone to fraud, unfriendly to retailers and passengers, and environmentally unsustainable.

Bank transfers can take months to process, cash is insecure and expensive to handle at airports, and points and future travel vouchers are often unpopular.

Swiipr says its integrated digital platform, which includes virtual and physical prepaid compensation cards and a mobile app, gives airlines the tools they need to solve these issues for both themselves and their passengers, while remaining fully compliant with the latest passenger rights regulations.

4. GrabTech

Grubtech, a SaaS integration and unified commerce platform for food & beverage and quick commerce companies, has raised $15 million as part of its Series B and Series A extension round.

The Series B round was led by the VC arm of Jahez Group, a Saudi Arabia-listed online grocery and quick commerce marketplace, with participation from existing investors Addition and Oryx Fund, Hambro Perks' MENA-dedicated fund.

Grubtech was founded in 2019 with gOnline, its flagship solution that integrates online and in-store ordering channels with downstream systems such as PoS, ERP, inventory, third-party logistics and loyalty solutions.

The company also offers solutions to streamline store operations, fulfillment, and AI-powered data analysis.

5. Slip

Slip, a platform that helps retailers digitize receipts, has raised $2.5 million in a seed round led by Adjuvo with participation from Haatch Ventures, Unbundled VC, Side by Side Partnership, and a range of angel investors including Dan Elton, executive vice president of customer and marketing at Asos, and Julian Burnett, former CIO of Frasers and CTO of John Lewis.

Launched in 2022, the Slips software is used by retailers such as JD Sports and Beyond Retro.

Partnerships with providers such as Shopify, Klaviyo, Epos Now and Sitoo allow APIs to integrate with existing systems, pulling insights from customer activity directly into a partner's CRM or marketing technology stack.

Founder and CEO Tash Grossman was inspired to start Slip after getting stuck in a store and unable to return a faulty item because she lost her receipt.

This experience gave her the idea for a digitized system that would be more efficient for customers and create opportunities for retailers to add value, and she worked with co-founder and CTO Eddie Herman to make this vision a reality.

In addition to its mission of providing retailers with insights and personalized marketing channels, the company also wants to eliminate the environmental impact of paper receipts: In the UK alone, more than 11 billion receipts are produced each year, most of which are not recyclable.

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