Omnistream, a retail solutions platform based in Singapore, has secured $7 million in a Series A round-headed by SIG Venture Capital, with participation from Delivery Hero Ventures, Spiral Ventures, and Wavemaker Partners.
Omnistream provides retail enterprises with software as a service, assisting them to create planograms or shop layout designs in order to optimise visitors’ on-store footprint. It claims that more than 8,500 retail outlets in Asia, Australia, Europe, and North America have adopted its technology.
Wendy Chen, the company’s CEO, created it in 2016. Its current round of funding will go into growth initiatives, with the goal of making 50 important recruits by the end of the year.
“As shoppers become more discerning, Omnistream empowers retailers to provide a superior customer experience that includes a more tailored product assortment, fewer stock-outs, and less waste across the retail supply chain,” said Chen.
By 2030, the global retail business is estimated to be worth US $40 trillion, about twice what it was in 2020. For that year, Asia Pacific accounted for 34.7 percent of the market.
