Singapore-headquartered Omnistream, a retail solutions platform, has raised US$7 million in a series A round led by SIG Venture Capital, with Delivery Hero Ventures, Spiral Ventures, and Wavemaker Partners participating.
Omnistream offers software as a service for retail companies, helping them with planograms or store layout plans to maximize visitors’ on-store footprint. It said that its solution has been used by more than 8,500 retail locations across Asia, Australia, Europe, and North America.
The company was founded by its CEO Wendy Chen in 2016. Its latest raise will fund its scaling efforts as it eyes making 50 key hires by the end of the year.
“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,” said Chen.
The global retail market is expected to be worth US$40 trillion by 2030, close to double its value in 2020. Asia Pacific made up 34.7% of the market for that year.
By: Roehl Niño Bautista
ORIGINALLY PUBLISHED ON TECH IN ASIA