Retail optimisation platform operator Dropit has raised $25 million in its Series C funding round, bringing the total raised to $50 million.
The Dropit platform allows retailers to combine their physical and online inventory, which the company says avoids wasted and reduces the environmental impact of high carbon emissions due to last mile delivery.
The funding round was led by Vault Investments, which will also be joining the Dropit board. Other investors included Tiga Investments, Axentia and Sugarbee.
Commenting on the news Kain Cabili, chief executive and founder of Dropit said: "Some of the biggest headaches retail faces today boil down to brands keeping their in-store and online inventory separate.
"The next wave of retail will require brands to use technology to advance operational efficiency and adapt to the constantly evolving shopping habits of consumers, who have grown accustomed to the convenience provided by online shopping. By unifying online and offline inventories, brands can reduce operational costs and minimize their impact on the environment, while simultaneously speeding up shipping times."
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Poundland significantly reduces antisocial behaviour, aggression and shoplifting with Motorola Solutions VT100 body cameras
Retail should not be a high-risk occupation. As a company, we are focused on listening to our colleagues and customers to help them with the issues they are facing in-store and so far, the feedback on our body cameras has been excellent. They act as a great visual deterrent, help to de-escalate situations and overall, this project has significantly aided our goal to make the retail environment safer.
For further information on Motorola Solutions’ retail security products, including body cameras, click here.
For further information on Motorola Solutions’ retail security products, including body cameras, click here.
Supplying demand: how fashion retailers can meet the needs of customers and still be sustainable
The fashion industry is no stranger to breaking the mould and setting trends, but the pursuit of style can come at a huge cost to the environment.
New legislation, such as the European Union's Ecodesign for Sustainable Products Regulation, will set mandatory minimums for the inclusion of recycled fibres in textiles, making them longer-lasting and easier to repair.
New legislation, such as the European Union's Ecodesign for Sustainable Products Regulation, will set mandatory minimums for the inclusion of recycled fibres in textiles, making them longer-lasting and easier to repair.
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