Series D Funded Commerce and Shopping Startups
The 48 Series D rounds in this dataset run from February 2021 through November 2025, with 26 of them closing in 2021 alone — the peak year for late-stage c…
The 48 Series D rounds in this dataset run from February 2021 through November 2025, with 26 of them closing in 2021 alone — the peak year for late-stage commerce funding in this set. Round sizes span from $8M (Marxent, Dayton OH) to $750M (Thrasio, Walpole MA), with Kavak ($485M, Mexico City), Loft ($425M, São Paulo), Bolt ($393M, San Francisco), and Dutchie ($350M, Bend OR) among the larger disclosed figures.
New York is the most represented city, with at least eight companies including Movable Ink, Daily Harvest, Orchard, LeafLink, and Slice. India contributes nine companies — Zetwerk, Infra.Market, Spinny, Shiprocket, and others — making it the most active non-US geography. Europe accounts for eight rounds spread across Belgium, Czech Republic, France, Sweden, Denmark, Switzerland, and the UK. Two rounds — Premier Lacrosse League and HundredX — did not disclose amounts.
Most recent rounds
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Frequently asked
What are the largest disclosed Series D rounds in this dataset?
Thrasio ($750M, February 2021, Walpole MA) leads the set, followed by Kavak ($485M, Mexico City), Loft ($425M, São Paulo), Bolt ($393M, San Francisco), Dutchie ($350M, Bend OR), and Weee! ($315M, Fremont CA). All six closed between February and October 2021.
How did the pace of Series D rounds in this segment shift after 2021?
Twenty-six of the 48 rounds closed in 2021, 15 in 2022, 4 in 2023, and one in 2024 (Snappy, $25M). Two rounds appear in 2025 — Clutch ($35M, February) and Peek ($70M, November). The drop from 26 to 4 rounds between 2021 and 2023 tracks the broader late-stage funding contraction.
Which cities have the highest concentration of Series D commerce companies?
New York accounts for the most, with Movable Ink, Daily Harvest, Orchard, LeafLink, Nomad Health, Slice, Snappy, and Teamshares (Brooklyn) all based there. San Francisco follows with Peek, Bolt, and Shippo.
How well-represented is India in this segment at Series D?
India is the largest non-US country in the dataset with nine companies: Zetwerk ($120M, Bengaluru), Infra.Market ($125M, Thane), Spinny ($104M, Gurgaon), iD Fresh Food ($68M, Bengaluru), Medikabazaar ($65M, Mumbai), Paper Boat ($50M, Haryana), Shiprocket ($41M, New Delhi), Vahdam Teas ($24M, New Delhi), and Cashify ($15M, Gurgaon).
Which subsectors come up most at Series D in commerce and shopping?
Food and grocery logistics has the densest cluster: Weee! ($315M), Rohlik ($232M), ezCater ($100M), Daily Harvest ($77M), and iD Fresh Food ($68M). Cannabis commerce contributes two large rounds — Dutchie ($350M) and LeafLink ($100M). B2B supply-chain marketplaces appear with Zetwerk ($120M) and Infra.Market ($125M), both India-based.
What does the round-size distribution look like across the 46 disclosed amounts?
The range stretches from $8M (Marxent, Dayton OH) to $750M (Thrasio). Most rounds cluster between $40M and $135M — Shiprocket ($41M), Guesty ($50M), Movable Ink ($55M), Voi ($115M), and Akeneo ($135M) are representative of that band. Eight rounds exceeded $200M; six closed in 2021, with Whatnot ($260M) and Rohlik ($232M) the only two from 2022.
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