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Razor Group acquires US Amazon aggregator Perch and announces Series D financing round
- Razor Group has acquired Perch, the leading Amazon aggregator in the US, solidifying its position as the global leader in the aggregation of online marketplace consumer brands.
- This acquisition paves the way for Razor to reach over $1 billion in topline revenue in the medium-term and adds significant scale to its operations.
- The combined entity will manage an assortment of more than 40,000 products across various online channels in the US, UK, EU, and Latin America.
- The acquisition is part of Razor’s broader consolidation strategy in the e-commerce aggregator space, following successful acquisitions of Factory14, Valoreo and The Stryze Group.
- Presight Capital is leading Razor’s Series D financing round, demonstrating strong confidence in Razor’s long-term vision and further growth potential.
- The additional funding will be used to further invest in Razor’s technology infrastructure including leveraging advancements in artificial intelligence (AI) and large language models (LLMs) to achieve complete automation of Razor’s consumer-to-manufacturer (C2M) retail operations.
BERLIN and BOSTON, March 5, 2024 /PRNewswire/ — Razor Group (“Razor”) has acquired Perch, the leading Amazon aggregator in the US, solidifying its position as the global leader in the aggregation of online marketplace consumer brands and creating the #1 player in the industry.
The acquisition is part of Razor’s broader consolidation strategy, underscoring its capability to act as the key consolidator within the global e-commerce aggregator ecosystem, following successful acquisitions of Factory14, Valoreo and The Stryze Group.
It also paves the way for Razor to reach over $1 billion in revenue in the medium-term, add significant scale to its operations and create a highly profitable global technology and e-commerce powerhouse. The new combined entity will manage an assortment of more than 40,000 products across key brands selling on 30+ marketplace and direct-to-consumer channels in 10+ countries across North America, United Kingdom, Europe, and Latin America.
In conjunction with this acquisition, Razor is also announcing a Series D financing round, led by Presight Capital. This new round, against a challenging macroeconomic backdrop, underscores the strong confidence investors have in Razor Group’s long-term vision and its potential for further growth.
The additional funding will be used to further invest in Razor’s technology infrastructure throughout the entire supply chain. Moreover, recent developments in artificial intelligence (AI) and the emergence of large language models (LLMs) presents a valuable opportunity to achieve complete automation of Razor’s consumer-to-manufacturer (C2M) retail operations, optimising processes, improving efficiency, and driving faster product innovation cycles and delivery.
“The e-commerce aggregator space will undergo continued consolidation in the medium-term, driven by the current macroeconomic environment. The acquisition of Perch is a highly value-accretive and transformative transaction on Razor’s path to becoming a global technology-driven e-commerce powerhouse. Presight is delighted to lead this funding round and continue to support Razor on its future growth path. With this sizable investment, we are also doubling down on Razor’s technology stack and capabilities, led by its CTO Shrestha Chowdhury, to power the global marketplace ecosystem,” said Christan Angermeyer and Fabian Hansen, Co-Founders and General Partners of Presight Capital.
Tushar Ahluwalia, Co-Founder and CEO at Razor Group, commented: “We are excited to partner with Perch, the leading US player in our space. The transaction further strengthens our market leadership, solidifying Razor Group as the #1 player globally. In contrast to our peers, our focus has been to build the Western response to Chinese vertical C2M models like Temu and Shein, rather than an internet version of P&G. Therefore, our secret sauce has been to invest in sophisticated technology automation to ensure deep supply-chain integration and hyper-fast product innovation cycles right from the start, a prerequisite to making the model work and seeing us develop the industry’s leading automation stack. With the ongoing advancements in AI and LLMs, that work continues.”
Chris Bell, Founder and CEO of Perch, added: “Over the past 18 months, Perch has transformed its business through our proprietary technology, machine learning-based decision engine, and leading supply chain capabilities, creating one of the first large-scale, cash flow positive players in our space. This combination with Razor, which will combine the best technology and people across two top players in our industry, creates a clear global platform for the next stage of consolidation and growth.”
About Razor Group
Razor Group GmbH (“Razor”) was founded by e-commerce experts and serial founders Tushar Ahluwalia, Christoph Gamon, Shrestha Chowdhury and Dr. Oliver Dlugosch. The Berlin-based company acquires and operates profitable Amazon FBA businesses and other online marketplace sellers which have consistently demonstrated superior product quality, outstanding customer satisfaction and sharp business acumen. Razor pairs significant growth capital with extensive e-commerce and technology expertise, thereby ensuring that the acquired businesses reach the next stage in their development. Razor defines itself as a technology-driven e-commerce business to push world-class consumer products in relevant categories into all leading marketplaces globally.
About Perch
Perch is a technology-driven commerce company that acquires and operates Amazon FBA and other D2C brands at scale. With roughly 100 brands and 5,000 products, Perch offers a diversified portfolio of leading consumer goods across multiple popular categories such as Home & Living, Sports, Health and Toys. Through its proprietary technology platform, strong focus on the US Amazon sales channel, and leading supply chain capabilities, Perch has quickly become the established leader within the US Amazon aggregator segment. Perch was founded by Chris Bell in 2019 in Boston, USA.
About Presight Capital
Presight Capital is a leading venture capital fund with >$600m assets under management that backs ambitious founders across multiple sectors globally including Consumer, Fintech, Healthcare, Robotics etc. Presight was launched in 2019 by serial entrepreneur Christian Angermayer and seasoned investor Fabian Hansen, as the flagship venture capital investment arm of Apeiron Investment Group, the family office of Christian Angermayer. Since its inception, Presight has invested in 70+ companies and completed 8+ portfolio public listings.
Contact:
Ben Li
VP Corporate Finance
[email protected]
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STOCKHOLM, April 5, 2024 /PRNewswire/ — EQT AB’s Q1 Announcement 2024 will be published on Thursday 18 April 2024 at approximately 07:30 CEST. EQT will host a conference call at 08:30 CEST to present the report, followed by a Q&A session.
The presentation and a video link for the webcast will be available here from the time of the publication of the Q1 Announcement.
To participate by phone and ask questions during the Q&A, please register here in advance. Upon registration, you will receive your personal dial-in details.
The webcast can be followed live here and a recording will be available afterwards.
Information on EQT AB’s financial reporting
The EQT AB Group has a long-term business model founded on a promise to its fund investors to invest capital, drive value creation and create consistent attractive returns over a 5 to 10-year horizon. The Group’s financial model is primarily affected by the size of its fee-generating assets under management, the performance of the EQT funds and its ability to recruit and retain top talent.
The Group operates in a market driven by long-term trends and thus believes quarterly financial statements are less relevant for investors. However, in order to provide the market with relevant and suitable information about the Group’s development, EQT publishes quarterly announcements with key operating numbers that are relevant for the business performance (taking Nasdaq’s guidance note for preparing interim management statements into consideration). In addition, a half-year report and a year-end report including financial statements and further information relevant for investors is published. Finally, EQT also publishes an annual report including sustainability reporting.
Contact
Olof Svensson, Head of Shareholder Relations, +46 72 989 09 15
EQT Shareholder Relations, [email protected]
Rickard Buch, Head of Corporate Communications, +46 72 989 09 11
EQT Press Office, [email protected], +46 8 506 55 334
This information was brought to you by Cision http://news.cision.com
https://news.cision.com/eqt/r/invitation-to-presentation-of-eqt-ab-s-q1-announcement-2024,c3956826
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- Kia drives forward transformation into ‘Sustainable Mobility Solutions Provider’
- Roadmap enables Kia to proactively respond to uncertainties in mobility industry landscape, including changes in EV market
- Company to expand EV line-up with more models; enhance HEV line-up to manage fluctuation in EV demand
- Goal to sell 1.6 million EVs annually in 2030, introducing 15 models
- PBV to play a key role in Kia’s growth, targeting 250,000 PBV sales annually by 2030 with PV5 and PV7 models
- Kia to invest KRW 38 trillion by 2028, including KRW 15 trillion for future business
- 2024 business guidance : KRW 101 tln in revenue with KRW 12 tln in operating profit; operating profit margin of 11.9% on sales of 3.2 million units globally
- CEO reaffirms Kia’s commitment to ESG management
SEOUL, South Korea, April 5, 2024 /PRNewswire/ — Kia Corporation (Kia) today shared an update on its future strategies and financial targets at its CEO Investor Day in Seoul, Korea.
Based on its innovative achievements in the years since the announcement of mid-to-long-term business initiatives, Kia is focusing on updating its 2030 strategy announced last year and further strengthening its business strategy in response to uncertainties across the global mobility industry landscape.
During the event, Kia updated its mid-to-long-term business strategy with a focus on electrification, and its PBV business. Kia reiterated its 2030 annual sales target of 4.3 million units, including 1.6 million units of electric vehicles (EVs). The 2030 4.3 million annual sales target is 34.4 percent higher than the brand’s 2024 annual goal of 3.2 million units.
The company also plans to become a leading EV brand by selling a higher percentage of electrified models among its total sales, including hybrid electric vehicles (HEV), plug-in hybrid (PHEV), and battery EVs, projecting electrified model sales of 2.48 million units annually or 58 percent of Kia’s total sales in 2030.
“Following our successful brand relaunch in 2021, Kia is enhancing its global business strategy to further the establishment of an innovative EV line-up and accelerate the company’s transition to a sustainable mobility solutions provider,” said Ho Sung Song, President and CEO of Kia. “By responding effectively to changes in the mobility market and efficiently implementing mid-to-long-term strategies, Kia is strengthening its brand commitment to the wellbeing of customers, communities, the global society, and the environment.”
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VANCOUVER, BC, April 4, 2024 /PRNewswire/ — BioVaxys Technology Corp. (CSE: BIOV) (FRA: 5LB) (OTCQB: BVAXF) (the “Company“) is providing this bi-weekly update on the status of the management cease trade order granted on February 29, 2024 (the “MCTO“), by its principal regulator, the Ontario Securities Commission (the “OSC“), under National Policy 12-203 – Management Cease Trade Orders (“NP 12-203“), following the Company’s announcement on February 21, 2024 (the “Default Announcement“), that it was unable to file its audited annual financial statements for the year ended October 31, 2023, its management’s discussion and analysis of financial statements for the year ended October 31, 2023, its annual information form for the year ended October 31, 2023, and related filings (collectively, the “Required Annual Filings“). Under National Instrument 51-102, the Required Annual Filings were required to be made no later than February 28, 2024.
As a result of the delay in filing the Required Annual Filings, the Company was unable to file its interim financial statements for the three months ended January 31, 2024, its management’s discussion and analysis of financial statements for the three months ended January 31, 2024, and related filings (collectively, the “Required Interim Filings“). Under National Instrument 51-102, the Required Interim Filings were required to be made no later than April 1, 2024.
The Company anticipates filing the Required Annual Filings by April 30, 2024. The auditor of the Company requires additional time to complete its audit of the Company, including the Company’s recent acquisition of all intellectual property, immunotherapeutics platform technologies, and clinical stage assets of the former IMV Inc. that closed on February 16, 2024. In addition, the Company anticipates filing the Required Interim Filings immediately after the filing of the Required Annual Filings.
Except as herein disclosed, there are no material changes to the information contained in the Default Announcement. In addition, (i) the Company is satisfying and confirms that it intends to continue to satisfy the provisions of the alternative information guidelines under NP 12-203 and issue bi-weekly default status reports for so long as the delay in filing the Required Annual Filings and/or Required Interim Filings is continuing, each of which will be issued in the form of a press release; (ii) the Company does not have any information at this time regarding any anticipated specified default subsequent to the default in filing the Required Annual Filings and Required Interim Filings; (iii) the Company is not subject to any insolvency proceedings; and (iv) there is no material information concerning the affairs of the Company that has not been generally disclosed.
About BioVaxys Technology Corp.
BioVaxys Technology Corp. (www.biovaxys.com), a biopharmaceuticals company registered in British Columbia, Canada, is a clinical-stage biopharmaceutical company dedicated to improving patient lives with novel immunotherapies based on the DPX™ immune-educating technology platform and it’s HapTenix© ‘neoantigen’ tumor cell construct platform, for treating cancers, infectious disease, antigen desensitization, and other immunological fields. The Company’s clinical stage pipeline includes maveropepimut-S which is in Phase II clinical development for advanced Relapsed-Refractory Diffuse Large B Cell Lymphoma (DLBCL) and platinum resistant ovarian cancer, and BVX-0918, a personalized immunotherapeutic vaccine using it proprietary HapTenix© ‘neoantigen’ tumor cell construct platform which is soon to enter Phase I in Spain for treating refractive late-stage ovarian cancer. The Company is also capitalizing on its tumor immunology know-how and creation of a unique library of T-lymphocytes & other datasets post-vaccination with its personalized immunotherapeutic vaccines to utilize predictive algorithms and other technologies to identify new targetable tumor antigens. BioVaxys common shares are listed on the CSE under the stock symbol “BIOV” and trade on the Frankfurt Bourse (FRA: 5LB) and in the US (OTCQB: BVAXF). For more information, visit www.biovaxys.com and connect with us on X and LinkedIn.
ON BEHALF OF THE BOARD
Signed “James Passin“
James Passin, Chief Executive Officer
Phone: +1 646 452 7054
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