CB-Insights-零售科技现状2021年第三季度报告（英）-2021-215页_11mb

State of Retail Tech Summary - Q3 2021

Core Content

The State of Retail Tech report provides an overview of dealmaking, funding, and exits in the global retail technology sector for Q3 2021. It highlights the significant growth and activity in the industry, with a focus on investment trends, unicorns, and major investors.

Main Points

• Global Deals:

  • In Q3 2021, there were 1,030 global retail tech deals, a record high and a 31% increase YoY.
  • The total investment in Q3 2021 was $27.9B, which is the second-highest quarter in global retail tech funding history, though it dropped 5% QoQ.

• US Funding:

  • The US raised $26.8B YTD in 2021, a 35% increase YoY compared to all of 2020.
  • The US saw significant investments in e-commerce, including PatPat and unybrands.

• Unicorns:

  • There are 167 global retail tech unicorns as of Q3 2021, an all-time high.
  • Asia leads with 73 unicorns, followed by the US with 63.

• Asia's Dominance:

  • Asia raised $11.1B in Q3 2021, which is 40% of the global total.
  • It accounted for 41% of all deals in Q3 2021 and had 36 mega-rounds.

• Investors:

  • SoftBank Group was the most active investor in Q3 2021 with 21 deals.
  • Tiger Global Management followed with 18 deals.
  • VCs led in deal share, with SoftBank, Tiger Global, and FJ Labs being the top VC investors.

• Mega-Rounds:

  • Mega-rounds (over $100M) accounted for 72% of total retail tech funding in 2021 YTD.
  • The largest mega-round in Q3 was Gopuff's $1.0B round, followed by Gorillas' $950M and Picnic's $706M.

• Funding Growth:

  • Food & Beverage Delivery was the top sector in 2021 YTD, with $16B raised, a 54% increase YoY.
  • The sector also saw a 58% QoQ increase, indicating strong interest in this area.

• M&A Activity:

  • M&A in Q3 2021 saw a 54% YoY increase, with 208 transactions.
  • The e-commerce sector accounted for nearly half of the M&A activity.

• Deal Size Trends:

  • The average deal size in 2021 YTD is $37M, a 76% increase from 2020.
  • The median late-stage deal size increased by 125%, reaching $90M in 2021 YTD.

Key Information

• Investment Trends:

  • The total YTD funding in 2021 is $82B, nearly double the 2020 total.
  • The US and Asia saw the highest funding and deal activity in Q3 2021.

• Top Deals by Series:

  • Series A: Jokr ($170M), SORL ($77M), GlobalBees ($75M), Zonos ($69M), Bilt Rewards ($60M).
  • Series B: Inceptio Technology ($270M), Gelato ($240M), Merama ($225M), Cider ($130M), Emerge ($130M).
  • Series C: Gorillas ($950M), Kitopi ($415M), Misfits Market ($225M), SendCloud ($177M), Ascend Money ($150M).
  • Series D: Picnic ($706M), PatPat ($510M), Keenon Robotics ($200M), Carzone ($200M), Carsome ($170M).
  • Series E+: Gopuff ($1.0B), Kavak ($700M), Ninja Van ($578M), Meesho ($570M), Mirakl ($555M).

• Notable Startups:

  • Gopuff and Gorillas were among the top funded companies in Q3 2021.
  • Ninja Van and Meesho also saw significant investment in the food and beverage delivery space.

• Regional Trends:

  • The US and Asia were the top regions in terms of investment and deal activity.
  • Europe and LatAm also showed growth, though not as significant as Asia and the US.

Summary

The Q3 2021 report highlights the robust growth of the retail tech sector, driven by a surge in investment, an increase in the number of unicorns, and significant deal activity. Asia leads in both funding and deal volume, with a strong focus on food and beverage delivery and fast delivery companies. The US also shows substantial growth, particularly in e-commerce and through major investments in key startups. Mega-rounds are becoming more prevalent, contributing a significant portion of the funding, and the average and median deal sizes have seen substantial increases, indicating a maturing market. Overall, the retail tech sector is experiencing a period of high activity and investment, with a clear trend towards larger deals and a growing number of unicorns.