Qogita secures £69m in Series B funding led by Dawn Capital for product development and category expansion.
The funding round was led by Dawn Capital with participation from Accel, LocalGlobe, and Bessemer Venture Partners.
Qogita operates an all-in-one digital wholesale platform that simplifies procurement for e-commerce businesses in the health and beauty sector. The company connects buyers and sellers through an automated allocation system to optimise pricing and delivery.
Qogita has secured £69m in Series B funding led by Dawn Capital, with participation from previous backers including Accel, LocalGlobe, and Bessemer Venture Partners. The fresh capital will be directed towards product development and category expansion. The company emerges from stealth with this round, bringing its total funding raised to €119m.
Founded in 2021, the company automates wholesale procurement for small and medium-sized merchants by matching buyer carts with an optimal mix of sellers through an algorithm-based system. The platform currently serves buyers across 28 countries and features over 300 sellers on its marketplace.
From the founder
"In an era when everyone is used to ordering goods and services from a meal to a car ride at the push of a button, it is unacceptable how difficult wholesale buying can be for small and medium-sized businesses. Qogita was founded with a mission to transform procurement and provide the buying power and privileges of a global chain to every ambitious e-commerce platform or mid-sized store. Over the past two years, we’ve been quietly building in service of our buyer and seller customers, and have made great strides so far, but there is of course still more work to be done. We’re delighted to be working with an elite group of visionary investors to revolutionize wholesale procurement."
Manolis Manassakis
CEO at Qogita
Investor perspective
"It is remarkable how complex and completely opaque product procurement still is for small and medium-sized businesses targeting the $6 trillion e-commerce market. Qogita has built an all-in-one platform to address the entire wholesale procurement process – from product discovery to price optimisation – and we’re excited to see them power a future generation of e-commerce and retail businesses bringing innovation and choice to the consumer."
Norman Fiore
General Partner, Dawn Capital
Use of funds
- 01Continue product development
- 02Fund the next phase of growth
