Funding Roundup: Meolaa, Loop...

Funding Roundup: Meolaa, Loop, Pickle and Others Achieve Capital Infusion

Oct 13, 2023

It has been a great couple of weeks for startups in the e-commerce, logistics and supply chain space. In this week’s Ecosystem Funding Roundup, we are thrilled to feature 6 of their notable achievements:

Loop Series B Funding

San Francisco-based transportation logistics startup Loop, uses AI to provide visibility into costs, potential savings, and insights across the supply chain. This technology addresses issues in the transportation and logistics industry, such as manual processes and errors in shipping documents. Loop's platform automates audits and payments, streamlining the movement of money between shippers, carriers, and brokers. With a recent $35M investment from a Series B funding round, Loop aims to further develop its payment platform for supply chain management.

  • Year Founded: 2021

  • Founder(s): Shaosu Liu and Chase Ellsworth

  • Location: San Francisco, California, United States

  • Latest Funding: $35M

  • Lead Investor(s): J.P Morgan Growth Equity Partners and Index Ventures

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MyDello Seed Funding

MyDello, an Estonian logistics platform, is revolutionizing traditional logistics processes by addressing transparency and communication issues in industrial and wholesale logistics management. It aims to introduce digitalization to international transport and claims to help companies reduce logistics costs by 15-20%. In a seed funding led by Superhero Capital, MyDello raised €1.25M to further expand its presence in various European markets.

  • Year Founded: 2021

  • Founder(s): Magnus Lepasalu, Joel Timm and Siimu Kaas

  • Location: Tallinn, Estonia

  • Latest Funding: €1.25M

  • Lead Investor(s): Superhero Capital

MarketLeap Funding

MarketLeap, a Luxembourg-based e-commerce platform, has secured €2.6M in funding led by multiple investors. The platform aims to simplify marketplace operations for brands, allowing them to concentrate on product development and sourcing. The company assists brands in selling their products in more than 30 countries, claiming that its customers achieve an average of 4x revenue growth within the first month of operations. The funding will support tech operations, new service offerings, and expansion in the US and UK.

  • Year Founded: 2022

  • Founder(s): Mamoun Benkirane and Mekki Mouaddeb

  • Location: Luxembourg

  • Latest Funding: €2.6M

  • Lead Investor(s): Notion Capital, Kima Ventures and Motier Ventures

Pickle Seed Funding

New York’s Pickle operates a fashion rental marketplace where users can rent items from others' closets. The platform focuses on middle-to-upper-tier brands and designers, with rental prices ranging from 10% to 20% of the retail value. Pickle has seen rapid growth, with a 55% month-over-month revenue increase and a 90% customer retention rate. The company recently secured $8M in seed funding to expand into new categories, U.S. markets, and potentially brick-and-mortar retail.

  • Year Founded: 2021

  • Founder(s): Julia O’Mara and Brian McMahon

  • Location: New York, United States

  • Latest Funding: $8M

  • Lead Investor(s): FirstMark Capital and Craft Ventures

Meolaa Seed Funding

Meolaa, an e-commerce startup from India, aims to redefine how consumers engage with brands and cater to the growing demand for sustainable products among Indian customers. Currently, the platform offers over 125,000 sustainable products from more than 1,500 brands across six categories, including beauty, personal care, babycare, and health supplements. Meolaa recently secured $2M in seed funding led by Turbostart, with the funding intended for further expansion of its sustainable e-commerce platform.

  • Year Founded: 2022

  • Founder(s): Ishita Sawant

  • Location: Bangalore, India

  • Latest Funding: $2M

  • Lead Investor(s): Turbostart

Velostics Seed+ Funding

Velostics, a logistics SaaS firm based in Houston, is addressing the scheduling challenges encountered by carriers, brokers, and freight forwarders. Their cloud-based solution streamlines inbound and outbound truck scheduling, spanning from vendors to end customers and covering manufacturing floors to distribution centers. In a recent seed+ funding round led by Starboard Star, Velostics secured $1.95M, which will play a pivotal role in expanding their unified scheduling platform for shippers.

  • Year Founded: 2019

  • Founder(s): Gaurav Khandelwal

  • Location: Houston, Texas, United States

  • Latest Funding: $1.95M

  • Lead Investor(s): Starboard Star

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