Ecommerce News

Otto partners with AI-startup Covariant

Otto partners with AI-startup Covariant
The Otto Group is partnering with Covariant, a company specializing in AI-driven warehouse robots. With the partnership, Otto wants to automate its fulfilment activities and increase its operational efficiency. Otto's German fulfilment locations will be robotized first.
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Chinese ecommerce giant settles in Dublin

Chinese ecommerce giant settles in Dublin
PDD Holdings has opened an office in the Irish capital Dublin. It concerns the head office, according to international news outlets, but the company itself vehemently denies this. PDD is the owner of the Chinese online platform Pinduoduo and the international ecommerce comet Temu, recently launched in six European countries.
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Secret Sales raises €11.3 million

Secret Sales raises €11.3 million
Online fashion marketplace Secret Sales has secured 10 million dollars in a Series B funding round. The capital injection will be used to accelerate expansion into Europe, with 12 new markets. By 2025, the platform wants to be the go-to destination for non-full price retail in all main European markets.
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iDeal acquired by European payment service

iDeal acquired by European payment service
Dutch payment service iDeal has been acquired by the European Payments Initiative (EPI), a collaboration of European banks. Payconiq, technology provider of iDeal and Belgian payment platform Bancontact, has also been taken over. iDeal is to form the basis of a Europe-wide payment system, according to EPI.
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Floodlight raises 5.7 million euros

Floodlight raises 5.7 million euros
Ecommerce platform Floodlight has raised 6.4 million dollars in a seed funding round. The company offers a smart business account where ecommerce business owners can manage and optimize their finances. “This seed round is an exciting validation of our platform and its potential to meet the needs of unserved SMEs”, says Noam Bernstein, CEO and co-founder.
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