Tuesday, June 25, 2024

Running it back: these are the retail technology news stories you might have missed last week — Retail Technology Innovation Hub

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Big Four supermarket Asda green lights full store roll-out of Retail Insight Inventory Insight solution

Asda has extended its technology partnership with Retail Insight, a provider of store operations execution software, with a view to improving on-shelf availability and the in-store experience.

The tie up involves a full store roll-out of Retail Insight’s Inventory Insight solution.

Asda now operates over 800 locations across its UK wide store estate – from supercentres, superstores, supermarkets, Asda Living stores, petrol stations and depots, and serves 18 million customers every week. 

With its significant store footprint and the sheer number of SKUs it stocks, it has inevitably felt the impact of inaccurate inventory and wanted to improve stock accuracy across its store network. 

US startup Max Retail raises $15 million Series A to help independent retailers and brands sell excess inventory

Max Retail, a marketplace via which independent retailers and brands can sell excess inventory, has announced a $15 million Series A round led by Nosara Capital, with participation from Rethink Impact.

The round also includes continued support from VC M13, The Artemis Fund, and StandUp Ventures.

“Independent retail shops are core pillars of their communities but face limited options for their excess inventory other than discounting far below cost, sending to consignment, or donating for a tax write off,” says Melodie van der Baan, CEO and Co-founder of Max Retail and former independent retailer.

“With this investment, we will continue to grow our sales channel network and expand this excess inventory solution to support the full product lifecycle, giving independent retailers and brands the tools they need to increase their inventory turns and maximise cash recuperation on unsold goods.”

Zilch taps GenAI and machine learning as it announces four million customers milestone in 44 months

Zilch, a BNPL specialist which is pitched as the world’s first ad subsidised payments network, has surpassed four million registered customers within 44 months of its launch.

“In less than four years, we’ve transformed how millions experience, engage and – most importantly – are rewarded with their daily payments, generating our customers over $500 million in savings and counting,” says Philip Belamant, CEO and Co-founder at Zilch.

Zilch says that it currently adds over 100,000 new customers each month and now around 12% of the UK’s 33 million adult working population has an account with it.

Since its launch, the platform has created over $3 billion in commerce, or Gross Merchandise Value (GMV), for retailers, with over half of this GMV generated in the last 12 months.

DoorDash partners with Ulta Beauty and lays claim to a beauty products and on-demand delivery first

DoorDash and Ulta Beauty have announced an expanded partnership to offer on-demand delivery from over 1,350 stores across all 50 US states.

People can now shop Ulta Beauty’s assortment of more than 25,000 products from over 600 brands spanning  the likes of cosmetics, fragrances, skincare, hair care, wellness, exclusively on the DoorDash app.

The tie up marks the first time all of DoorDash’s monthly active users can order from a beauty retailer in all 50 states. This builds on DoorDash’s recent entry into new categories across retail and grocery to broaden its selection.

Consumers can browse and discover their favourite beauty essentials within the dedicated Beauty tile on DoorDash and receive their items delivered straight to their door in under an hour, on average.

Autonomous retail technology startup Pixevia raises €1.5 million and eyes DACH expansion

AI retail technology company, Pixevia, has raised €1.5 million in new funding. This saw new investors Coinvest Capital, Omni Commerce Ventures and Rita Sakus join primary investor Iron Wolf Capital in the round.

Other prominent existing backers Open Circle Capital, Vladas Lašas, and Renaldas Zioma made significant contributions.

The cash will be directed towards planned expansions throughout the US and Europe, especially within the DACH region. Included in these plans are the integration of new venues such as sports arenas, university campuses, and airports.

Pixevia has raised €4.1 million to date. Some of that was from EU research grants and mostly from equity investment. 

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