Omnistream, a Singapore-based data-powered retail solutions startup, has announced raising $7 million in Series A funding led by SIG Venture Capital, the Asian venture capital arm of Susquehanna International Group.
Delivery Hero Ventures, an independently managed venture capital fund backed by Delivery Hero, Asian investment management firm Spiral Ventures, and venture investor Wavemaker Partners also participated in the funding round.
Wendy Chen, Founder, and CEO of Omnistream, said she founded Omnistream as a mission-driven firm to deliver digital solutions to some of the most serious difficulties affecting 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,” Chen said in a statement.
Blake Ong of SIG said they are pleased with Omnistream’s ability to productize what was previously a pricey yet unsuccessful way for merchants to better serve customers.
Ong added that their investment will help Omnistream achieve its global goals of providing next-generation technology solutions to a diverse set of businesses.
Brendon Blacker, Managing Partner of Delivery Hero Ventures, said their objective of creating a more sustainable food and grocery industry resonated with the company’s mission-driven strategy.
Omnistream, a global software-as-a-service (SaaS) firm based in Singapore, provides solutions to significant retailers in Asia, Australia, Europe, and North America, with over 8,500 retail locations.
The company’s technology assists retailers in optimizing their physical footprint by creating store-level planograms that optimize assortments for hyperlocal demand, resulting in material sales increases.
ORIGINALLY PUBLISHED ON ASIATECHDAILY