Alkemics provides internet technology to more than 2,500 brands and retailers including Wal-Mart Stores Inc. that lets them share product and sales data to collaborate on production and promotional strategies. A group of investment firms figures it has room to grow worldwide, and has forked over $22 million in funding.
Paris-based Alkemics says it will use the funds to accelerate international deployment of its technology and strengthen its sales, marketing and technology development resources. The Series B round of funding comes from Cathay Innovation, Serema Capital, Index Ventures, Partech Ventures and SEB Alliance. It brings to $27.6 million the total amount of funding Alkemics has raised since its Series A round early last year.
Alkemics is certified as a data provider on the GDSN 3.1 industry standard from GS1. GDSN, or Global Data Synchronization Network, is an international system of providing common product data used in international trade, ensuring accurate and consistent product among trading partners. GS1 is an international nonprofit organization that sets up and manages global trade identification numbers, or GTINs, used to identify products traded through the internet.
“From the beginning, Alkemics shared a clear understanding of our common goal—leveraging digital technology to deliver a rich, consistent shopping experience for our consumers,” says Romain David, e-commerce Leader at consumer products manufacturer Unilever France. “Their agile approach to innovation and data management has served as a catalyst for stronger collaboration between our own teams and with our retail partners.”
Jacky Abitbol, partner at Cathay Innovation, and Ming-Po Cai, President of Cathay Capital Private Equity, said in a shared statement, “In many industries, digital is a proven catalyst for growth and has become its own commercial channel. We’re convinced by the quality of the Alkemics team and its ability to quickly scale a collaborative digital platform between brands and retailers through a network effect that creates new marketing opportunities at local, national and international levels.”
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