Series C Funded Commerce and Shopping Startups
The 50 most recent Series C rounds in Commerce and Shopping span March 2022 through November 2025, with disclosed amounts ranging from $4M (Nua, Mumbai) to…
The 50 most recent Series C rounds in Commerce and Shopping span March 2022 through November 2025, with disclosed amounts ranging from $4M (Nua, Mumbai) to $156M (Floward, Riyadh). India is the most represented single country, with ten companies across five cities — five in Mumbai alone, including Nua, Emiza, Nobel Hygiene, MCaffeine, and Plum. Berlin contributes four — CarOnSale ($82M), Habyt ($42M), NUMA Group ($59M), and Everphone ($32M) — clustered around used-car marketplaces, device leasing, and flexible housing models.
At the high end, six companies cleared $100M or more: Floward ($156M), Pollen ($150M, London), Flip ($144M, Los Angeles), Landing ($125M, Birmingham), Eyewa ($100M, Dubai), and OSF Digital ($100M, Quebec). The 2022 vintage dominates with 26 of the 50 rounds shown, while 2025 has contributed 9 through November — CarOnSale and Upway ($60M, France) among the most recent — following a notably thin 2024 that produced just four rounds in the dataset.
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Frequently asked
What are the largest Series C rounds among these commerce companies?
Floward raised the largest disclosed round at $156M (Riyadh, February 2023), followed by Pollen at $150M (London, April 2022), Flip at $144M (Los Angeles, April 2024), and Landing at $125M (Birmingham, August 2022). Six companies cleared $100M in total, also including Eyewa ($100M, Dubai, November 2024) and OSF Digital ($100M, Quebec, April 2022).
Which cities have the most Series C commerce companies in this dataset?
Mumbai leads with five companies — Nua, Emiza, Nobel Hygiene, MCaffeine, and Plum — all raising between March 2022 and February 2025. San Francisco and Berlin each contributed four: Botrista Technology, Gorgias, Bobbie, and Qualified.com from San Francisco; CarOnSale, Habyt, NUMA Group, and Everphone from Berlin.
How well is India represented in this Series C commerce dataset, and how large are those rounds?
Ten of the 50 companies are India-based, spread across Mumbai (5), Gurgaon (2), Jaipur (1), Chennai (1), and Bengaluru (1). Round sizes range from $4M (Nua) to $75M (CityMall), with the majority falling between $12M and $52M — notably smaller than the US and Middle East cohorts.
What is the median Series C round size for commerce startups in this dataset?
The median round across the 50 companies is exactly $50M — four companies raised precisely that amount: Mottu (São Paulo), Cordial (San Diego), Autobooks (Detroit), and Captain Fresh (Bengaluru). The full distribution spans $4M to $156M, with the largest rounds concentrated in marketplace and consumer-facing models across the US, Middle East, and Europe.
How has the volume of Series C commerce deals shifted across the years shown?
2022 accounts for 26 of the 50 rounds — the heaviest single-year concentration in the dataset. 2023 adds 11 rounds and 2024 contributes only 4, a sharp contraction. 2025 shows 9 rounds through November, with CarOnSale ($82M, Germany) and Luma Financial Technologies ($63M, Cincinnati) among the larger recent raises.
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