With increasing digital awareness, numerous online services and the pandemic, shopping online is more or less the new norm. However, offline marketplace is said to account for 80 percent of retail, which is a major chunk of the market. Enabling companies to figure out ways to tap into the offline retail space is big business, one which the Warsaw-based startup Cosmose has already figured out. The company is also making headway and has now announced raising €12.6 million in its Series A funding round.
Cosmose’s valuation soars
The latest series A funding round for Cosmose was led by institutional capital from Tiga Investments, OTB Ventures and TDJ Pitango. In addition, it was supported by a number of “ultra-high net worth individuals” from India, Israel and Singapore. To summarise, this funding round was led by the company’s investors in Cosmose’s growth markets in Asia and supported by investors in its engineering base in Eastern Europe. It is also expected to enable new opportunities of geographic expansion for the company.