Who’s raising money successfully.
Who’s getting the money?
While traditional retailers face the heat, retail tech companies are raking in moolah. Luxury ecommerce destination Farfetch has raised $397 million in investment from Chinese retailer JD.com. Another retail tech company Trax, which deals with computer vision-driven insights in retail, raised $64 million from private equity firm Warburg Pincus.
Amazon’s drone towers idea is the stuff of sci-fi comics
In a new patent Amazon outlines its idea for cylindrical towers that will allow drones to launch and deliver directly to customers homes. Imagine a cylindrical skyscraper in the middle of the city forming a hive for drones — finally something comics predicted.
Sears closes another 20 stores
Sears has announced that it will be closing 18 Sears stores and two Kmart stores. This is in addition to the 226 store closures the struggling retailer announced earlier this year.
This week on The Ecommerce Intelligencer: