Meet the 24 most promising retail tech power players revolutionizing how brands operate and customers buy online and in stores

Damir Becirovic of Index Ventures, Meera Clark of Redpoint Ventures, Morad Elhafed of Battery Ventures, and Amy Saper of Accel.

Insider talked to top VCs and asked them to pick the most promising startups so far in 2022.
VCs were asked to list startups in their portfolios and companies they have no financial ties to.
The result is a list of up-and-coming startups within the retail industry seen below. 

Estimated total funding for each startup is based on reports from PitchBook unless otherwise specified. Some VCs identified in this list recommended multiple startups that cater to the retail industry. 

Hans Tung, GGV CapitalHans Tung, a managing partner at GGV Capital.

Recommended startup: Frubana 

Relationship: Investor

Total startup funding: $353.57 million  

What it does: Frubana is an online grocery-shopping platform for restaurants and small retailers in Latin America. The platform allows merchants to source ingredients directly from farmers and manufacturers with no intermediaries.

The food-supply challenges during the COVID-19 have helped accelerate the growth outside its home base in Colombia. It works with 87,000 restaurants and small retailers in Colombia, Brazil, and Mexico. 

Why it’s on the list: By cutting off intermediaries like food distributors, Frubana’s B2B tech saves money for both producers and buyers. The company initially started as a fruit-and-vegetable distribution venture but has expanded to become “a one-stop-shop for Latin American restaurants,” Tung told Insider. “It provides price transparency, reduces waste, facilitates logistics, and generates trust to create a highly efficient and vertically integrated food-supply chain.” 

Mark Fiorentino, Index VenturesMark Fiorentino is a partner at Index Ventures.

Recommended startup: Catch

Relationship: Investor

Total startup funding: $30.6 million

What it does: Catch allows online shoppers to complete purchases by paying directly from their bank accounts instead of with credit cards. Brands pass on the savings that would …read more

Source:: Businessinsider

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