Local products- and inventory search engine Voradius announced it has closed a second funding round. The round was again led by Javest Investment Fund, who also took this role in the startup’s seed funding.
Voradius, founded by a team of Ebay and Skype alumni, offers consumers a way to see which local stores carry the product they’re looking for. Essentially providing consumers an alternative to ordering the product online. The startup now covers c. 25,000 retailers, with a combined product database of 500,000 products.
The funds raised are to be used to increase the rate of growth as well as to launch a new small retailer proposition. For these retailers Voradius will develop a communications platform allowing them to respond to local consumer requests. “This investment allows us to expand the Voradius proposition for retailers and consumers in the Netherlands even faster and to launch new services” says CTO and co-founder Maikel Brouwer.
The startup sees the traditional role of the physical store changing rapidly and offers merchants a way to keep up. “Voradius combines the power of local presence with the unique qualities of physical stores” says Brouwer.
Voradius’ funding round was led by Dutch micro VC Javest Investment Fund. Various angel investors also took part in the round, which the startup states was oversubscribed thanks to strong interest in the field. Both the company and investors have not disclosed the terms of the round, but it is rumoured to be in the EUR1 million area. This would place it roughly in line with comparable rounds in the Netherlands over the past months.
Photo by Pieter van Marion (creative commons via Flickr)