The Retail Times is a weekly newsletter covering retail tech news from Canada and around the globe.
Subscribe to R|T using the form at the bottom of this page to ensure you don’t miss out on the most important retail tech news every week!
Hospitality platform 7shifts secures $101.6 million CAD to increase staffing, product development (BETAKIT)
On the heels of what it called a significant year of growth, Saskatoon-based 7shifts has raised $101.6 million CAD in Series C funding to scale its restaurant staff management platform. The much larger round comes less than a year after 7shifts scored $25.9 million in Series B capital.
Flexport is Silicon Valley’s solution to the supply chain mess — why do insiders hope it sinks? (FORBES)
San Francisco-based logistics platform Flexport has secured over $900 million USD in funding at an $8 billion valuation. The startup’s Series E round was led by Andreessen Horowitz and MSD Partners, with a strategic investment from Shopify, and participation from existing investors like DST Global, Founders Fund, and SoftBank Vision Fund 1.
Elastic Path secures $60 million to scale “composable commerce movement” (BETAKIT)
The new capital brings Elastic Path’s total funding to over $120 million, positioning the e-commerce tech firm to build on what it describes as a “strong 2021” that saw an over 400 percent year-over-year growth.
And the money kept rollin’ in from every side: Cazoo brings home $630 million (TECH.EU)
UK-based online car retailer Cazoo has raised $630 million to support continued UK and Continental European expansion plans.
Dozr raises $27.5 million in Series B funding to support US expansion plans (BETAKIT)
According to Dozr, the startup’s Series B round consisted “mostly” of primary capital, but also involved “some secondary.”
Tesla sued by California agency for alleged racial discrimination, harassment (WALL STREET JOURNAL)
The California Department of Fair Employment and Housing says it acted after receiving hundreds of complaints from workers.
11 Canadian tech companies to watch in 2022 (BETAKIT)
ControlHQ’s co-founder is back with his #CDNtech crystal ball. Here’s Kevin Sandhu’s annual list of Canadian tech companies that will make significant strides in 2022.
Affirm’s revenue growth is being driven by Amazon and Shopify (MODERN RETAIL)
During its fiscal second-quarter earnings report Thursday, Affirm revealed that its new merchant and revenue growth was being largely driven by partnerships secured with e-commerce giants Amazon and Shopify over the past couple of years.
Cubbi secures $1.35 million CAD to expand its food delivery and storage platform (BETAKIT)
Here’s some cool news: Internet of Things (IoT) fridge system startup Cubbi (formerly Arctic Shelf) has secured a $1.35 million CAD seed round.
Booking.com to eliminate 2,700 customer service jobs (SKIFT)
After Booking Holdings laid off about 25 percent of its workforce across 60 countries in 2020 and 2021 because of the pandemic, its Booking.com unit is lopping off another 2,700 call center jobs in the next few months.
RenoRun closes $181 million CAD Series B to fuel Canada, US expansion (BETAKIT)
In an interview with BetaKit, RenoRun co-founder and CEO Eamonn O’Rourke spoke about where the startup fits into the building materials market, and the opportunity to take the “back office-running of a construction project off of the contractor’s hands” through a platform that includes a FinTech product.
Hundreds of e-commerce sites booby-trapped with payment card-skimming malware (ARS TECHNICA)
Magecart hackers strike again.
Founder Dax Dasilva out as Lightspeed CEO (BETAKIT)
Lightspeed founder Dax Dasilva has stepped down as CEO, becoming executive chair. The company’s board has appointed president JP Chauvet as his replacement. The shuffle comes after Lightspeed’s share price has dropped more than 75 percent over the last six months from its September peak following short-seller attacks, low revenue guidance, and general tech stock malaise.
Massive “coffeetech” investments are giving startups a jolt (REST OF WORLD)
In Southeast Asia, take coffee, combine with a dash of e-commerce, and have investors buzzing.
