It’s Friday, the week is nearly done, so let’s kick back and reflect on another eventful week for the retail systems space. Here's your briefing on the most important stories from the past five days, including Amazon and Affirm, Peak AI and Ocado/M&S.
1. Amazon makes buy now pay later move with Affirm deal
Amazon is partnering with Affirm for its first ever buy now, pay later option on the e-commerce site.
This is now available to certain Amazon customers in the US, with a broader roll-out set for the coming months.
The tie up will let people split purchases of $50 or more into smaller, monthly instalments.
Huge #ecommerce news for @Affirm has it secures #BNPL partnership with @amazon . Right now for selected vendors but to role out more widely over time:
— Paul do Forno 🛒 🇺🇸🇨🇦🇵🇹 (@dofornop) August 27, 2021
"Amazon Partners with Affirm to Deliver Pay-Over-Time Option at Checkout" https://t.co/skQrEJpIww pic.twitter.com/UpJ28Oq3Vi
2. Peak AI closes mega Series C funding round
Artificial Intelligence startup Peak has announced a $75 million Series C funding round led by new investor SoftBank Vision Fund 2.
There was also participation from all existing backers, including MMC Ventures, Oxx, Praetura Ventures, Arete and Octopus Ventures. This brings Peak’s total funding raised to date to $119 million.
The cash will fuel global expansion, with new offices opening in both the USA and India, as well as increasing R&D investment in Peak’s decision intelligence software.
As a result, it is planning to create more than 200 new jobs globally in the coming year.
You've heard the 𝐫𝐮𝐦𝐨𝐫𝐬... now let's tell you the 𝐰𝐡𝐨𝐥𝐞 𝐬𝐭𝐨𝐫𝐲 😎
— Peak (@Peak_HQ) August 31, 2021
We're delighted to announce a $75m #SeriesC funding round, led by @SoftBank Vision Fund 2.
🔊 Sound 🔛
3. Former Morrisons boss Dalton Philips joins Starship Technologies
Autonomous delivery services venture, Starship Technologies, has added Dalton Philips to its board.
Philips is currently CEO at daa, whose principal activities include the operation and management of Dublin and Cork Airports, global airport retailing subsidiary ARI, and international aviation consultancy daa International.
He was previously CEO at UK supermarket chain Morrisons from March 2010 to February 2015.
We are delighted to announce retail industry veteran Dalton Philips has joined our board of directors.
— Starship Technologies (@StarshipRobots) September 1, 2021
Dalton brings industry leading experience and will play an important role in helping Starship strengthen its position as the market leader in autonomous delivery. pic.twitter.com/FZdkQpuWIR
4. Ocado Purfleet CFC goes live as M&S celebrates one year of online deliveries
This week marked one year since Marks and Spencer went live on Ocado.
The move saw the latter begin to sell and deliver food from M&S rather than Waitrose, after M&S splashed out £750 million to acquire a 50% stake in Ocado’s retail business.
“With operations commencing at Ocado's latest fulfilment centre in Purfleet, capacity will soon increase to 600,000 (from around 356,000) orders a week,” M&S tweeted.
The Purfleet site is Ocado’s third customer fulfilment centre (CFC) to launch this year, and up to 1,500 people could work there once it is at full capacity.
It will be the company’s second biggest CFC, behind one in Erith.
Today marks 1 year since we went live on Ocado🥳 That's 365 days customers have had delicious, great value M&S food delivered straight to their door. And with operations commencing at Ocado's latest fulfilment centre in Purfleet, capacity will soon increase to 600k orders a week! pic.twitter.com/SlIdexOV73
— M&S News (@MandSnews) September 1, 2021
5. Checkout free stores startup Zippin bags Series B funding
US startup Zippin has raised $30 million in Series B funding from new and existing investors including OurCrowd, Maven Ventures, Evolv Ventures and SAP.
This brings the checkout free store venture’s total funding to more than $45 million.
Zippin says that the latest funding round will enable it to scale its platform and power tens of thousands of stores by 2025.
Customers include food service providers Aramark Corporation and Compass Group, Japan’s third largest convenience store chain Lawson, and Brazilian retailer Americanas.
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