B2B
Q1 202418.01.2024

Retail & Ecommerce

Picture of Éanna Kelly

Éanna Kelly

at Sifted

Is peak ecommerce over? Spiking in 2020 after the pandemic shuttered the high street, data shows that the online share of retail spending across Europe is beginning to flatline. Consumer spending is down, and there are red arrows for VC funding, with investors distributing some $770m to European ecommerce startups in 2023, less than half the sum they dished out in 2022.

This isn’t great news for startups selling the tools companies need to build their online shops — though in some cases, demand for new ideas is rising precisely because of the online shopping comedown. With businesses forced to trial new tactics to save money or entice customers, they’re turning to startups for data analytics and conversion tools, and help reducing the proportion of returned goods.

The big brands with sophisticated ecommerce sites are mostly able to innovate in-house, but there’s a whole other class of company that needs more basic help with their fledgling online shops. B2B companies are turning to digital tools to cultivate closer relationships with top-spending customers and offer them personalised messages based on their needs, customer profile, spending behaviour and interactions — both past and predictive, using AI. VCs call it an “underserved” market — and the steady rise of B2B marketplaces in recent years tells us there are opportunities here for savvy founders.

20 most promising early-stage retail & ecommerce startups

  • charles logo

    Sifted score

    9.39
    -

    charles

    Revenue generation via Whatsapp for consumer brands

    • Strong investor(s)
    • Serial founder(s)
    • Hiring
    • Year founded

      2019

    • HQ

      Berlin, Germany

    • Latest round

      Series A
      20m / Jul 2022

    • Total funding

      27.4m

  • Evy logo

    Sifted score

    8.35
    -

    Evy

    Enables retailers to offer product protection plans

    • Strong investor(s)
    • Serial founder(s)
    • Hiring
    • Year founded

      2022

    • HQ

      Paris, France

    • Latest round

      Seed
      6.5m / Oct 2022

    • Total funding

      6.5m

  • Medusa logo

    Sifted score

    8.02
    -

    Medusa

    ecommerce website building blocks

    • Strong investor(s)
    • Year founded

      2021

    • HQ

      Copenhagen, Denmark

    • Latest round

      Seed
      8.0m / Jul 2022

    • Total funding

      8.0m

  • More Growth logo

    Sifted score

    7.67
    -

    More Growth

    Content and tools for fast-growing online brands

    • Strong investor(s)
    • Serial founder(s)
    • Hiring
    • Year founded

      2021

    • HQ

      Warsaw, Poland

    • Latest round

      Seed
      4.5m / Jul 2022

    • Total funding

      4.5m

  • indyRIOT logo

    Sifted score

    7.3
    -

    indyRIOT

    Social platform builder for brands

    • Serial founder(s)
    • Year founded

      2020

    • HQ

      Oslo, Norway

    • Latest round

      Seed
      4m / Sep 2021

    • Total funding

      5m

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