Upstock ·6 February 2024·1 outlet
Upstock lifted its seed round to $13 million and signed Woolworths
Upstock raised its seed funding to $13 million and signed Woolworths, in a deal a founder said would improve supermarket competition. Buyers place and track orders across all of their suppliers in one app, while suppliers manage catalogs, ordering, payments and logistics in the same place.
We backed Upstock because hospitality wholesale ordering is large, repetitive and almost entirely manual, which makes it a strong fit for a marketplace that both sides use every day. A national grocery chain on the platform is a different order of volume from a cafe, and it pulls suppliers on faster than any sales team can. Hospitality operators are under real cost and labor pressure, and the timing favors a tool that takes admin out of daily reordering.
- Company
- Upstock, www.upstock.app
- First reported
- 6 February 2024
- Outlets
- NZ Herald
Who covered it
- Upstock boosts seed funding to $13m, signs Woolworths in deal founder says will boost supermarket competitionNZ Herald, 6 February 2024
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