Cloud Retail raises £2.4m in seed funding led by Somersault Ventures to expand its e-commerce platform.
The London-based software platform secured £2.4m from backers including Somersault Ventures and AltaIR Capital to develop its retail management ecosystem.
Cloud Retail provides an all-in-one e-commerce software platform that supports retail businesses with modular solutions ranging from web development to warehouse management. Formerly known as Jiffy, the London-based company evolved from a quick-commerce delivery business into an enterprise technology provider.
Cloud Retail has secured £2.4m in a seed funding round led by Somersault Ventures. The investment also drew participation from Pre-Seed to Succeed, AltaIR Capital, Yellow Rocks, Smart Partnership Capital, I2BF Venture Capital, AddVenture, and various business angels.
Originally launched as a quick-commerce grocery delivery service operating in London under the name Jiffy, the company pivoted in 2022 to focus entirely on software development. It now offers a comprehensive suite of e-commerce tools, including warehouse management systems, demand forecasting, and proprietary artificial intelligence solutions designed to accelerate business deployment.
The fresh capital will be deployed to further enhance the product suite and expand operations into additional industry segments and international markets.
From the founder
"We love partnering with clients who need a full stack, easy-to-use, enterprise-grade solution across almost all industries. This financing will help further enhance the product and roll it out across even more segments and countries."
Marat Bolatov
CEO and Co-founder at Cloud Retail
Investor perspective
"Founders who dare to visualize their product’s global expansion and set realistic milestones ahead are a gem for investors. It was a dealmaker in the case of Cloud Retail."
Igor Ryabenkiy
Founder and Managing Partner at AltaIR Capital, AltaIR Capital
Use of funds
- 01Continue product development
- 02Expand into international markets
Investors
Alexander Nevinskiy
Somersault Ventures
Pre-Seed to Succeed
Igor Ryabenkiy
AltaIR Capital
Yellow Rocks
Smart Partnership Capital
I2BF Venture Capital
AddVenture
Categories
About the company
Cloud Retail
Cloud Retail provides an all-in-one e-commerce and retail management platform.