{"id":1792,"date":"2024-08-22T06:10:23","date_gmt":"2024-08-22T10:10:23","guid":{"rendered":"https:\/\/www.packagingindustrynews.com\/?p=1792"},"modified":"2024-08-22T06:10:23","modified_gmt":"2024-08-22T10:10:23","slug":"the-rounds-secures-24m-in-series-b-funding","status":"publish","type":"post","link":"https:\/\/www.packagingindustrynews.com\/?p=1792","title":{"rendered":"The Rounds secures $24m in Series B funding"},"content":{"rendered":"


\n<\/p>\n

\n
\n
\n \n <\/picture>
The Rounds delivers recurring grocery and household essentials in reusable packaging. Credit: The Rounds\/PR Newswire. <\/figcaption><\/figure>\n<\/p><\/div>\n

The Rounds, an inventory management platform specialising in recurring grocery and household essentials in reusable packaging, has successfully completed a $24m Series B funding round.\u00a0\u00a0<\/p>\n

The investment is led by Moderne Ventures and supported by FJ Labs and existing stakeholders.\u00a0<\/p>\n

The company plans to use proceeds from the investment towards scaling its AI-powered service.\u00a0<\/p>\n

It will enable The Rounds to focus on profitable growth within its current markets, enhance its team with machine learning and data science experts, and launch into new territories.\u00a0\u00a0<\/p>\n

This financial brings the company\u2019s total funding so far to $66m.\u00a0<\/p>\n

Since its Series A, The Rounds has achieved a sixfold increase in revenue, opened a facility in Washington, D.C., initiated cold chain operations, and strengthened its closed-loop supply chain with local vendors.\u00a0\u00a0<\/p>\n

\n

Access the most comprehensive Company Profiles
\n on the market, powered by GlobalData. Save hours of research. Gain competitive edge.<\/p>\n