The best RetailTechs in Europe
Despite the fact that 80 percent of the $26 trillion spent on retail each year is focused offline, the online revolution is underway. Consumer research, browsing, and price comparison are all done online, even for offline transactions. Technologies are being developed to address the major difficulties that retailers face in order to keep their consumer base satisfied and maintain relevance.
Statistics show that approximately $130 billion has been invested in nearly 23,600 equity deals to tech start-ups in Europe alone since 2015. Amidst the pandemic and its influence on global supply chains, 2020 nonetheless managed to yield key technological breakthroughs as well as several significant start-up debuts and growth stories.
Europe has some of the world’s most well-known tech unicorns, along with being a technological innovation hotspot. Berlin, London and Stockholm, amongst many other cities have evolved into tech hubs in the past few years. Some of the top European RetailTech start-ups include:
Mercaux – London
Mercaux helps retail stores transition from a simple sales channel into a multi-purpose experience, fulfillment, and remote selling centers. All of their products are seamlessly integrated as a ‘Digital Lego’ Platform, but they can still be launched independently, providing retailers with greater flexibility.
Mercaux is listed in Retail Week’s Discovery 50 list, which shines a light on the world’s top tech companies whose innovative solutions are supporting the retail sector both during the pandemic and in the future. They were also listed as Technology Vendor of the Year UK at the RTIH Awards.
Last funding round: Debt Financing $1.5M
Total Funding Amount: $9.2M
Zappar – London
Zappar is an augmented reality platform and creative studio. Their goal is to make AR and MR more accessible to the general public. Their teams have produced innovative experiences for some of the world’s most well-known companies, demonstrating how augmented reality can be used to alter packaging, illuminate events, and elevate marketing campaigns with new, engaging content.
The ZapWorks toolkit gives designers and developers access to the potential of augmented reality, allowing them to push the boundaries of interactive creativity both with and without code. Their ZapBox is the world’s first low-cost MR kit, allowing developers and businesses to rethink how they design, build, and create 3D experiences.
Last funding round: Series A $3.8M
Total Funding Amount: $3.8M
Scandit – Zurich
Scandit uses computer vision to integrate the physical and digital worlds, allowing businesses and consumers to engage with everyday objects. Scandit technology is a unique machine learning platform combining barcode scanning, text recognition (OCR), object recognition and augmented reality (AR) for use on any camera-equipped smart device, from smartphones to drones, wearables and robots. Its solutions reduce operational costs and time while also improving employee and customer satisfaction.
Scandit is used to power mobile apps in a variety of industries. Many of the world’s most successful companies use Scandit as part of their digital transformation
Last funding round: Series C $80M
Total Funding Amount: $123.1M
Scurri – Wexford
Scurri develops software that connects and optimizes the ordering, shipping, and delivery processes in eCommerce. The company’s mission is to “connect commerce,” adding value at various points along the eCommerce journey, such as assisting customers with getting their purchases through the checkout process, selecting the most cost-effective delivery option for each package, creating accurate labels, tracking packages, and running analytics to provide insight so that they can continue to help their clients improve the entire process.
Scurri was listed as one of the top 50 global retail tech start-ups by Retail Week’s Discovery 50.
Last funding round: Venture round €9M
Total Funding Amount: €15.5M
Instabox – Stockholm
Instabox is a delivery service that delivers products to smart box locations seven days a week for select online retailers. For 89 percent of their collaborative partners, they offer same-day delivery. When customers check out from one of Instabox’s partners, they just select Instabox. They’ll get a text message with a code that will allow them to pick up their package from one of the smart boxes without having to queue.
Instabox’s partners benefit from less customer service, higher purchase frequency and ultimately happier customers.
Last funding round: Series B $90M
Total Funding Amount: $137.1M
Heuritech – Paris
Heuritech is a cutting-edge fashion technology firm that provides brands with predictive analytics on trends and products. Heuritech helps fashion brands forecast demand and trends more accurately, produce more sustainably, and achieve exceptional competitive advantage by using superior artificial intelligence (AI) to transform real-world photographs posted on social media into meaningful insights.
The company was created with one purpose in mind: to bridge the gap between artificial intelligence and business. Heuritech continues to apply the most recent scientific research in the fashion sector.
Last funding round: Series A $5M
Total Funding Amount: $7.3M
commercetools – Munich
commercetools is a next-generation software company that offers a headless commerce platform that provides the building blocks for the new digital commerce age. The company’s API approach helps retailers create brand value by empowering commerce teams to design unique and engaging digital commerce experiences everywhere. The agile, componentized architecture of commercetools boosts profitability by reducing the time and resources needed to switch to modern commerce technologies and satisfy new customer needs.
commercetools software has been used by Fortune 500 firms in a variety of industries, from retail to manufacturing, and from telecoms to fashion, since its inception.
Last funding round: Private Equity Round $145M
Total Funding Amount: $167.7M
Geoblink – Madrid
Geoblink is a SaaS-based Location Intelligence solution that helps professionals from the retail, real estate, and FMCG industries make informed decisions about their business strategies. It combines traditional and non-traditional advanced analytics techniques over big and small data, together with a rich map-based UI to display multiple types of statistics in a way that is simple to use and easy to understand.
The company was recently selected by Bloomberg as one of the 50 most promising startups in the world.
Last funding round: Series A $5M
Total Funding Amount: $7.3M
Get in touch if you’re a RetailTech startup or scale-up looking to expand your staff. We have a large network of professional RetailTech talent at Storm5 that are seeking cutting-edge retail technology companies to join.