Singapore's Omnistream closes $7M Series A investment led by SIG Venture Capital & More News Here

Omnistream, a Singapore-based data-empowered options firm for the retail business, stated Tuesday it has raised $7 million in Series A funding led by SIG Venture Capital, the Asian enterprise capital arm of Susquehanna International Group (SIG).

The spherical additionally noticed participation from Delivery Hero Ventures, an independently managed enterprise capital fund backed by Delivery Hero, together with Asian investment administration agency Spiral Ventures and enterprise capital agency Wavemaker Partners, Omnistream stated in a press release.

It additionally stated that the brand new funding will enable Omnistream to quickly scale to deal with the wants of retail purchasers globally and can outcome within the addition of greater than 50 new roles to the group by the top of 2022.

“I founded Omnistream as a mission-driven company to bring technology solutions to some of the most pressing challenges facing the retail industry. As shoppers become more discerning, Omnistream empowers retailers to provide a superior customer experience that includes a more tailored product assortment, fewer stock-outs, and less waste across 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 across the globe,” stated Wendy Chen, Founder and Chief Executive Officer of Omnistream.

Founded in 2018, Omnistream is a worldwide software-as-a-service (SaaS) firm offering options to massive retailers throughout Asia, Australia, Europe and North
America with deployments throughout 8,500+ retail areas. Its know-how helps retailers optimise their bodily footprint by producing store-level planograms that optimise assortments for hyperlocal demand leading to materials uplifts in gross sales.

The firm is without doubt one of the fastest-growing retail know-how corporations in Asia, experiencing tenfold utilization development thus far in 2022, and serves a variety of retail prospects together with supermarkets, comfort shops, pharmacies, in addition to on-line grocery operators. With its latest enlargement into North America and Europe, it’s positioned to grow to be a globally main retail know-how firm.

“We were impressed with Omnistream’s ability to productise what previously was a costly yet ineffective approach for retailers to serve customers better. The company’s growing pipeline of inbound demand from retailers globally is testament that they have built something unique. Our investment will assist Omnistream to realize its global ambitions, offering next-generation technology solutions to a broad range of retailers,” stated Blake Ong from SIG.

SIG is the Southeast Asian and Indian enterprise capital arm of the Susquehanna International Group of Companies, a worldwide proprietary buying and selling and personal fairness investment agency based in 1987. It is especially targeted on the adoption of enterprise fashions throughout nations and areas and are in a position to attract upon the community and data throughout the SIG international portfolio to supply perception and help to our founders.

Over the final 15 years, it has invested in over 350 corporations and achieved preliminary public providing (IPO)/ merger and acquisition (M&A) exits in over 70 corporations in Asia. Some notable corporations in its international portfolio embody Bytedance, Agora, Kumu, Lentra, Mobile Premier League, Musical.ly, Paidy and RedDoorz.

“Delivery Hero operates one of the world’s largest networks of dark stores for grocery delivery. We immediately saw the potential for Delivery Hero to work with Omnistream to drive incremental sales and operational efficiencies for our online grocery business. The company’s mission-driven focus also resonated with our core value to create a more sustainable food and grocery industry,” stated Brendon Blacker, Managing Partner of Delivery Hero Ventures.

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