Sign up to save tools and stay up to date with the latest in AI
bg
bg
1

Swap raises $40 million to streamline e-commerce logistics with its AI-powered platform

Mar 04, 2025 - businessinsider.com
Swap, an e-commerce logistics startup founded in 2022 by Sam Atkinson and Zach Bailet, has secured $40 million in Series B funding led by ICONIQ Growth, with participation from QED Investors, Cherry Ventures, Portfolio Ventures, and 9900 Capital. The company consolidates logistics for direct-to-consumer e-commerce brands into a single platform, integrating functions like cross-border shipping, order tracking, return management, and inventory forecasting. Swap uses AI to enhance inventory management and operational processes, with its newest product, Swap Inventory, leveraging AI to forecast trends and demand. The startup's clients include fashion brands such as Nadine Merabi, Motel Rocks, and The Frankie Shop.

With the new funding, Swap plans to expand internationally, targeting markets in Australia, Europe, Canada, and the US, and aims to serve larger customers over time. The company will also build out its sales team and open a fourth office in New York, adding to its existing locations in London, Tel Aviv, and the Netherlands. Swap's platform assists brands with international sales by calculating duties and taxes at checkout and partnering with FedEx for shipping. The startup competes with companies like Global-E in cross-border logistics and Syrup and Autone in AI-based inventory management.

Key takeaways:

  • Swap raises $40 million in Series B funding led by ICONIQ Growth to expand its e-commerce logistics platform.
  • Founded in 2022, Swap consolidates logistics for e-commerce brands into one platform, using AI for inventory management and operational processes.
  • The company plans to use the new funding for international expansion, targeting markets like Australia, Europe, Canada, and the US.
  • Swap's platform competes with companies like Global-E, Syrup, and Autone by offering a comprehensive solution for cross-border sales and inventory management.
View Full Article

Comments (0)

Be the first to comment!