Omnistreama Singapore-based data-driven retail solutions company, announced on Tuesday that it has raised $7 million in Series A funding led by SIG Venture Capital, the Asian venture capital arm of Susquehanna International Group (GIS).
The round also saw participation from Delivery Hero Ventures, an independently managed venture capital fund backed by Delivery Hero, as well as Asian investment management firm Spiral Ventures and venture capital firm Wavemaker Partners. , Omnistream said in a statement.
He also said the new funding will allow Omnistream to scale quickly to meet the needs of retail customers globally and will result in the addition of more than 50 new roles to the team by the end. of 2022.
“I founded Omnistream as a mission-driven company to provide technology solutions to some of the most pressing challenges facing the retail industry. As shoppers become more demanding, Omnistream enables retailers to deliver a superior customer experience that includes a more personalized product assortment, fewer stockouts and less waste throughout the retail supply chain.With the support of our Series A investors , we are excited to bring these benefits to more retailers and their customers around the world,” said Wendy Chen, Founder and CEO of Omnistream.
Founded in 2018, Omnistream is a global software-as-a-service (SaaS) company providing solutions to major retailers in Asia, Australia, Europe and the North.
Americas with deployments in more than 8,500 points of sale. Its technology helps retailers optimize their physical footprint by generating store-level planograms that optimize assortments for hyperlocal demand, resulting in a significant increase in sales.
The company is one of the fastest growing retail technology companies in Asia, with tenfold usage growth so far in 2022, and serves a wide range of retail customers, including supermarkets, convenience stores, pharmacies, as well as online grocery stores. With its recent expansion into North America and Europe, it is positioned to become a leading retail technology company globally.
“We were impressed with Omnistream’s ability to produce what was previously a costly but inefficient approach for retailers to better serve customers. The company’s growing pipeline of incoming inquiries from retailers around the world is a testament to the fact that they have built something unique. Our investment will help Omnistream realize its global ambitions, delivering next-generation technology solutions to a wide range of retailers,” said Blake Ong of SIG.
SIG is the Southeast Asia and India venture capital arm of the Susquehanna International Group of Companies, a global proprietary trading and private equity firm founded in 1987. It has a particular focus on the adoption of business models across countries and regions and is able to leverage on SIG’s global portfolio network and knowledge to provide insight and support to our founders.
Over the past 15 years, she has invested in over 350 companies and completed initial public offerings (IPO)/mergers and acquisitions (M&A) in over 70 companies in Asia. Some notable companies in its global portfolio include Bytedance, Agora, Kumu, Lentra, Mobile Premier League, Musical.ly, Paidy and RedDoorz.
“Delivery Hero operates one of the largest dark store networks in the world for grocery delivery. We immediately saw the potential for Delivery Hero to work with Omnistream to increase sales and operational efficiencies for our delivery business. The company’s mission-driven focus also resonated with our core value of creating a more sustainable food and grocery industry,” said Brendon Blacker, Managing Partner of Delivery Hero Ventures.
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