We don't write stories about every funding round related to marketing and advertising, but several raises this week are worth pointing out because they illustrate evolutions in several key emerging areas.
In a sign of where the world of Web3 commerce is heading, New York-based Novel Commerce on Tuesday raised $6 million in seed funding to help brands, content creators and retailers create and sell NFTs. And Fabricant, which helps make clothing for the metaverse, raised a $14 million Series A round—timely, considering how companies like Roblox, Decentraland and Epic continue to gain traction with new users and brands in the digital space.
It's been an active week on the e-commerce front, too. On Thursday, SamCart announced an $82 million Series B round to continue building out its sales platform for content creators. On Tuesday, Wholesum raised a $50 million Series A to fuel M&A of various lifestyle, health and pet brands. Meanwhile, RITMO, a Madrid-based fintech company, says it has raised $200 million to help fund e-commerce startups in Europe and Latin America.
Disparate as they might appear, all these announcements show a growing focus on the future of what people create, sell and buy online. As McKinsey recently pointed out, virtual goods have grown from $5 billion in sales in 2015 to $60 billion or $70 billion in 2021. (Plenty more to say about all of this, but we're going to keep it short and sweet this week and save everything else for another day.)
Have a good weekend and we'll see you next week.
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