Cbinsights-零售科技2021年状况报告（英）-192页_3mb

State of Retail Tech Summary (2021)

Core Content

The State of Retail Tech report for 2021 highlights the significant growth and evolution of the retail technology sector globally. It provides insights into investment trends, funding patterns, exit activities, and the emergence of new unicorns.

Key Trends

• Global Retail Tech Funding: In 2021, global retail tech funding reached $109 billion, surpassing $100 billion for the first time and more than doubling the 2020 total. The number of deals also increased by 25%.

• E-commerce and Supply Chain Tech: These two segments saw record funding, with e-commerce hitting $54 billion and supply chain and logistics tech experiencing a 16% increase in deals. The focus on inventory management, payments, and shopper tracking led to significant investment in in-store retail tech as well.

• Exits: The number of exits in 2021 reached 976, with M&A accounting for over 90% of them. 91 companies exited via IPO or SPAC, a tripled number from 2020. E-commerce platforms led the IPO wave, with a majority of exits in this category.

• Unicorns: 97 new retail tech unicorns were born in 2021, which is nearly quadruple the number from 2020. These unicorns reached a valuation of $1 billion+, and they span various segments including e-commerce, social commerce, and delivery tech.

• Deal Size Increase: The average deal size in 2021 was $36 million, a 71% increase from 2020. This was driven by a surge in late-stage rounds, with the median size of these rounds rising over 150% to $85 million.

• Mega-Rounds: There were 291 mega-rounds in 2021, a 140% increase from 2020. These mega-rounds accounted for 71% of total funding and were concentrated in delivery tech, especially food delivery.

• Regional Highlights:

  • Asia received the largest share of global retail tech funding, totaling $43 billion or 40% of the global total. This was driven by large deals in grocery delivery.
  • Latin America saw a 700% increase in retail tech funding to $7 billion, with 88% growth in deals. Most deals were early-stage, indicating a growing opportunity for market maturation.
  • E-commerce funding reached a new record of $43 billion, with a 184% YoY growth. Backend technologies such as payments and brand aggregators received the most attention.
  • Food and Meal Delivery funding almost doubled to $20 billion, with the US capturing 31% of the total funding due to the rise of ultrafast grocery delivery.

• Supply Chain & Logistics Tech: 40% of supply chain deals were mid- or late-stage in 2021, up from 30% in 2020. This shift reflects the importance of scale and stability in this sector.

Key Information

• Top Equity Deals in Q4 2021:

  • J& T Express raised $2.5 billion in a private equity round.
  • Thrasio and Nuro each raised $1.0 billion and $600 million, respectively.
  • Bolt secured $393 million in a Series D round.

• Top Seed/Angel Deals in Q4 2021:

  • Packform raised $25 million.
  • Carma and Digital Supply Chain Technology each raised $10 million.

• Top Series A Deals in Q4 2021:

  • Benitago raised $325 million.
  • Carzam and Veho raised $149 million and $125 million, respectively.

• Top Series B Deals in Q4 2021:

  • Flink raised $750 million.
  • Gorillas and Heyday raised $1.0 billion and $555 million, respectively.

• Top Series C Deals in Q4 2021:

  • Gorillas raised $1.0 billion.
  • Heyday and Vuori raised $555 million and $400 million, respectively.

• Top Series D Deals in Q4 2021:

  • Thrasio raised $1.0 billion.
  • Nuro and Bolt raised $600 million and $393 million, respectively.

• Top Series E+ Deals in Q4 2021:

  • Xiaohongshu raised $500 million.
  • Faire raised $400 million in a Series G round.

• Top Companies by Mosaic Score:

  • Bolt and Shiprocket scored 950.
  • ezCater, MyGlamm, and Dutchie scored 930, 920, and 910, respectively.

Main Points

• The retail tech sector experienced unprecedented growth in 2021, with funding and deal volumes reaching record levels.
• E-commerce and supply chain technologies were the primary drivers of investment.
• The US, Asia, and Latin America were the top regions in terms of funding, with Asia capturing the largest share.
• Mega-rounds dominated the investment landscape, contributing significantly to the overall funding.
• The majority of exits were through M&A, with a notable rise in IPOs and SPACs.
• The number of unicorns in the retail tech space grew substantially, with many reaching valuations over $1 billion.
• The sector is maturing, with a greater focus on later-stage investments and scalable solutions.