Category: Eka Ventures

Index leads $12.2M seed in Sourceful, a data play to make supply chains greener



Supply chains can be a complex logistical challenge. But they pose an even greater environmental challenge. And it’s that latter problem — global supply-chain sustainability — where UK startup Sourceful is fully focused, although it argues its approach can boost efficiency as well as shrink environmental impact. So it’s a win-win, per the pitch.

Early investors look impressed: Sourceful is announcing a $12.2 million seed funding round today, led by Europe’s Index Ventures (partner, Danny Rimer, is joining the board). Eka Ventures, Venrex and Dylan Field (Figma founder), also participated in the chunky raise.

The June 2020-founded startup says it will use the new funding to scale its operations and build out its platform for sustainable sourcing, with a plan to hire more staff across technology, sustainability, marketing and ops.

Its team has already grown fivefold since the start of 2021 — and it’s now aiming to reach 60 employees by the end of the year.

And all this is ahead of a public launch that’s programmed for early next year.

Sourceful’s platform is in pre-launch beta for now, with around 20 customers across a number of categories — such as food & beverages (Foundation Coffee House), fashion and accessories (Fenton), healthcare (Elder), and online marketplaces (Floom and Stitched) — kicking the tyres in the hopes of making better supply chain decisions.

Startup watchers will know that supply chain logistics and freight forwarding has been a hotbed of activity — with entrepreneurs making waves for years now, promising (Read more...)

Paired pulls in $3.6M to encourage more couples to get cosy with app-based relationship care



Can an app improve your romantic relationships? The founders behind Paired, a “relationship care” app for couples, believe it can. And since launching in October, with $1M to kick things off, they’ve convinced 5,000+ coupled-up others to try their custom blend of partner quizzes, “relationship satisfaction” tracking, and audio tips from experts — to try to feel closer to their S.O.

Paired is now gunning for serious growth: It’s announcing $3.6M in seed funding today, led by Eka Ventures with participation from existing investors including Taavet Hinrikus (Wise, formerly TransferWise), Harold Primat (investor and former professional racing driver), and the co-founders of Runtastic.

As part of the seed funding, Camilla Dolan of Eka Ventures will join the board alongside the app’s co-founders Kevin Shanahan and Diego López (who previously worked together at language learning app Memrise).

Paired says its goal for the new funding is to grow its user-base from 5,000+ to 100k over the next 18 months.

All sorts of audio-led wellness ‘self-care’ apps have been bubbling up in recent years — offering individuals app-wrapped help with stuff like meditation and mindfulness; targeted motivation to combat anxiety and stress; or dishing up sex tips and sexual self awareness.

Paired fits within that broader trend, albeit with a more explicit nudge to extend the self-care phenomenon to a unit of two romantically connected people.

As it looks for growth, the UK-based startup (Read more...)