Retail tech funding and deals declined in H1 2020 against H1 2019, says the report.

The evolution of the retail tech industry is increasingly shaping the way how people do shopping. As COVID-19 has impacted our lives and work, it has brought many technological innovations. Today's retail technology is one such innovation changing everything about buyers' expectations and retail operations. The sector has seen downward trends in funding and deals this year. According to a CB Insight report, retail tech funding and deals are down in 2020. Deals and funding declined in H1’20 vs. H1’19. Funding for H1’20 was down 42 percent from the same period in 2019, falling from US$25.4 billion to US$14.6 billion. 

Despite this, there are numerous companies managed in raising mammoth amounts to keep their businesses going and further research and development.

Here’s a look at the top 10 retail tech funding and investments of 2020.

Mirakl

Mirakl is a marketplace SaaS platform that empowers both B2B and B2C organizations to launch and grow an enterprise marketplace at scale. In September, the e-commerce firm raised US$300 million in a Series D funding round. Led by Permira, with existing investors 83North, Bain Capital Ventures, Elaia Partners and Felix Capital, the round takes Mirakl's total valuation to US$1.5 billion. Through this funding, the company plans to expand across all areas — same features, same business model, with more resources. It also plans to increase its engineers' headcounts and scale its sales and customer success teams.

Yotpo

Yotpo, a SaaS-based e-commerce marketing platform, in August, raised US$75 million in a Series E funding round. The round was led by Bessemer Venture Partners, with the participation of existing investors Access industries and Vertex Ventures, and new investor Hanaco. Located in New York, United States, Yotpo will use the capital to continue growing its suite of products, as well as acquiring more customers and build out more integration partnerships.

Stackline

E-commerce intelligence platform Stackline in November sealed US$50 million in Series A funding round from Goldman Sachs Growth Equity. Founded in 2014, Stackline uses a blend of data analytics and marketing automation with a team of in-person e-commerce experts to build personalized sales strategies for brands that sell on third-party marketplaces, like Amazon. The company plans to spend this fund on continuing to develop its tech stack and scaling globally.

Roamler

An Amsterdam-based on-demand workforce platform Roamler in June raised €20 million (about US$24 million) in a Series B funding round from Endeit Capital, SmartFin and Achmea Innovation Fund. Founded in 2011, the company plans to use the funds to expand operations in the Netherlands and its business reach internationally, first in Germany.

Greenbits

Greenbits is a cannabis retail platform serving medical dispensaries and adult-use retailers. IN April, the company received a US$23 million Series B financing round. Tiger Global Management, along with Casa Verde, a Los Angeles-based cannabis investment fund, DNS Capital and several prominent industry executives with experience in software and payments led the round. The company will use the funds to accelerate sales, marketing, and product development while expanding product and service offerings to new geographic markets.

Arzooo

Arzooo, a B2B retail tech platform that transforms 300,000+ SMEs with its flagship "Go Store" product, raised US$7.5 million in a Series A funding round in October. The round was led by WRVI Capital, with existing investors 3Lines Venture Capital, a US-based investor, and Jabbar Internet of UAE. The company was announced to use this fresh capital for its tech-upgradation and market expansion.

Cosmose AI

The developer of a data analytics platform to foresee the shopping behavior of consumers with regards to offline purchases, Cosmose AI in August secured US$15 million in Series A funding round. Led by Tiga Investments, the funds will be used to drive customer acquisition and product R&D.

GeoIQ.io

GeoIQ.io is a map-based intelligent platform with single-click access to street-level location data – demographics, competitions, movements – for retail. In November, the company snagged INR 25 million (US$337,940) in a Seed round from 9Unicorns Accelerator Fund. The Bengaluru-based startup leverages its location data stack and machine learning capabilities to provide companies with insights into their customers.

RevLifter

RevLifter, an AI-powered technology provider that personalizes deals for retailers across any marketing channel, secured £3.4 million (about US$4.6 million) in a Series A funding round. The round was led by Maven Capital Partners and Gresham House Ventures. The fund will enable RevLifter to reach its growth projections faster, enabling the directors to scale the team, translate the pipeline and continue to improve their technology to help their clients.

Tiliter

Tiliter, an AI-powered software provider that uses computer vision to recognize products without barcodes, in October received US$7.5 million in a venture capital round. Investec Emerging Companies (IEC) with participation from Eleanor Venture and New York’s Cornell University led the round. The fund will allow Tiliter to expedite its expansion across Europe and the U.S., with many supermarkets.