Retail Channels

New funding for Amazon seller tech, digital fashion, 3PL robotics

Dealboard has the latest from Bundle x Joy, Kering Eyewear, Blank Street Coffee and more.

three models in digital fashions

DressX brings fashion to the metaverse. (Courtesy photo)

Welcome to Dealboard. In this weekly feature, The Current is providing a look at the mergers, acquisitions and venture capital deals making waves in ecommerce, CPG and retail.

This week, brands including Leesa Sleep, Bundle x Joy and Khaite raised funding for retail expansion. Plus, there’s new funding for self-serve Amazon advertising, digital fashion and automated ecommerce logistics.

Here’s a look at the latest deals:


DressX raises $15 million for digital fashion

DressX, a digital fashion marketplace, raised $15 million in a Series A round.

The round was led by Greenfield Capital, with participation from Slow Ventures, Warner Music Group, Red DAO and other investors.

DressX is a multi-brand retailer of digital fashion items that are used to outfit avatars in gaming, social media and the metaverse. The company will use the funding to make upgrades to its app and NFT marketplace, as well as grow its community and partner with other platforms.

“Fashion has always been a core part of someone‘s identity and a way to express yourself. As we spend more and more time in virtual environments, this will equally translate beyond the physical sphere and NFTs and blockchain technology will enable true digital ownership to elevate one’s identity,” said Jascha Samadi, founding partner at Greenfield, in a statement. “We are very excited to see how this space will evolve over the next 5-10 years and we believe DRESSX will be at the forefront of shaping and driving change."

Nimble Robotics raises $65M in Series B

Autonomous logistics and AI company Nimble Robotics raised $65 million in a Series B round.

Cedar Pine led the financing, with participation from existing investors including DNS Capital, GSR Ventures and Breyer Capital.

Led by a team of former Amazon executives, Nimble Robotics will put the funding toward building a network of autonomous 3PL fulfillment centers. The robotics-filled centers are designed to autonomously pick, pack and ship ecommerce orders. The company said it will be able to reduce warehouse size by 75%, and provide coverage of more than 96% of the U.S. population.

Petcare subscription Bundle x Joy gets Mars investment

Bundle x Joy, a petcare subscription company, raised $1 million in new seed funding, TechCrunch reported.

The funding round was led by Leap Venture Studio, with additional backing from Mars Petcare Companion Fund, R/GA Ventures, Michelson Found Animals Foundation and Cloyes Ventures.

With the funding, the company plans to double its retail footprint from a current 450 stores. TechCrunch described the company’s digital customer acquisition model this way:

From a nutrition perspective, Bundle x Joy curates its boxes from 15 products and a proprietary “Pup Quiz” for customers to assess what products to offer and the personality of their dog. In fact, the company assigns fun personalities to each pet, including “Golden,” “Vibrant” and “Brave.”

In addition, the quiz enables the company to output the right bundle for the pet, including formulation, size and frequency of food and supplements, based on the specific needs of the pet.

Blank Street Coffee raises $20M

Blank Street Coffee, which provides delivery from automated microcafes, raised $20 million in new funding, Fast Company reports.

The round included participation from Left Lane Capital, HOF Capital, General Catalyst and Tiger Global.

After expanding to more than 40 locations, the company is exploring a subscription program that will provide beverages every two hours, as well as the addition of breakfast.

Tyson invests in carbon credits for livestock

Tyson Ventures, the VC arm of food giant Tyson, invested in Athian, a carbon credit marketplace focused on the livestock industry.

Participants in the financing also included Elanco Animal Health Incorporate and Newtrient LLC.

This funding will help propel the company toward the launch of a transactional carbon credit inset platform. This is designed to provide financial incentive to livestock farmers who engage in sustainable practices. In particular, the program aggregates, validates and certifies greenhouse gas reductions, then monetizes them through the sale of carbon credits. The idea is that farmers can earn revenue to fund the implementation of more programs.

"Our vision is to be the platform that enables the livestock industry to meet its sustainability goals by empowering producers to implement on-farm practice changes that will move the needle on climate change,” said Athian CEO Paul Myer, in a statement.

Mayan raises $5 million for self-service Amazon advertising tool

Mayan, which makes a platform providing optimization and automation for Amazon sellers, raised $5 million in a Series A funding round.

Bright Pixel led the financing, which comes in addition to a $2 million seed round from Y Combinator, Global Founders Capital, Alumni Ventures Group, ESAS Ventures and Alarko Ventures.

With the financing, Mayan is planning to launch a self-service platform for Amazon advertising, as well as an analytics and forecasting suite. It will also begin work in areas of Amazon selling such as inventory and working capital.

Fashion brand Khaite earns Stripes investment

Khaite, a New York fashion brand, raised new funding from private equity firm Stripes. According to Vogue Business, the brand is planning to use the funding to fuel expansion in retail, with an aim of opening 10 stores in the next five years.

Terms of the investment were not disclosed.


DTC brand Leesa Sleep acquired

Leesa Sleep, a direct-to-consumer bed-in-a-box brand, was acquired by 3Z Brands, a distributor of sleep products.

With the acquisition, Leesa will remain a standalone brand, joining Helix Sleep, Brooklyn Bedding, Birch, Bear Mattress and Nolah.

"Leesa is an exceptional company built on the pillars of delivering better sleep for customers and creating a positive impact in communities,” said 3Z CEO John Merwin, in a statement. “With its advanced design expertise and high-quality products, we're looking forward to supporting Leesa's continued growth with our best-in-class manufacturing expertise and digital capabilities. This addition marks our third acquisition within the last year, demonstrating 3Z's commitment to building a leading DTC platform that meets each customer's tailored sleeping needs.”

Kering Eyewear acquires manufacturer

Kering Eyewear acquired 100% of UNT, Usinage & Nouvelles Technologies, a French manufacturer of high-precision metal and mechanical components for the luxury eyewear sector.

It’s the latest move by Kering Eyewear to control its own supply chain. UNT is based in the Jura region, which is known historically as the focal point of the French eyewear industry.

"Being a long-term, high-quality supplier of Manufacture Kering Eyewear, this new acquisition represents the opportunity to create an integrated luxury eyewear platform with best-in-class manufacturing capabilities, facilities and talents, in addition to supporting and further elevating the Jura district,” said Kering Eyewear President and CEO Roberto Vedovotto.

Subscribe to The Current Newsletter

Trending in Retail Channels


US imports expected to fall 22% in first half of 2023: NRF

Labor disputes on the West Coast could cause further disruption heading into peak season.

aerial view of boat on water
Photo by Venti Views on Unsplash

When the first half of 2023 is complete, imports are expected to dip 22% below last year.

That’s according to new data from the Global Port Tracker, which is compiled monthly by the National Retail Federation and Hackett Associates.

Keep reading...Show less

Latest from Retail Channels