Cbinsights-零售科技2021年状况报告（英）-192页_3mb.pdf

State Of Retail TechGLOBAL | 2021Global data and analysis on dealmaking, funding, and exits in private-market retail tech companiesGues Les. Win More.CB Insights helps the worlds leading companies make smarter technology decisions with data, not opinion. Our Technology Insights Platform provides companies with comprehensive data, expert insights and work management tols that enable them to discover, understand and make technology decisions.Sign up for a fre trial2View any companys partnerships, vendor relationships or distributors in real time to se where theyre making moves across the entire suply chain.Business RelationshipsEvery business is constantly evolving. We use CB Insights to track what everyone is doing and identify potential partnerships. They compile and structure data in a way that saves us time and cuts costs.Alyson ZhangChief Operating Officer, Shoplaza5In-Store Retail TechE-CommerceLoyalty & Rewards TechSuply Chain & Logistics TechOn-DemandFood & Meal DeliveryNew Retail FormatsDig Deper.CB Insights clients can find and track companies using our analyst-curated Expert Colections.6Tech Market Map Report Suply Chain Optimization In RetailAnalyzing LoralsGrowth Strategy: How the Cosmetics Giant Is Becoming a Beauty Tech LeaderSocial Comerce Market Map: 50+ Companies Bringing Social Elements To Online ShoppingFitnes Tech Market Map: 80+ Early-Stage Startups Shaping The Future Of Fitnes TechThe Partnerships Shaping The Future Of Autonomous Driving100+ Early-Stage Beauty & Personal Care StartupsUnbundling GM: How The Traditional Automaker Is Being DisruptedAutonomous Driving Startups Raise Record Funding As The Push For Comercialization BeginsSocial Comerce Funding Breaks Records As US Livestream Shoping Heats UpOur Most Popular Client-Exclusive Retail Tech Research7WEBINARLaura KenedySenior Lead Analyst, Consumer & RetailFuture Of Shoping: 100 Companies Transforming Retail TechMarch 17th, 2pm ETRegister hereWEBINARContentsGlobal Trends 21Investment Trends 22Unicorns & Valuations 53Exit Trends 62Investors 70Collection Spotlights 78In-Store Retail Tech 79E-Comerce 91Loyalty & Rewards Tech 102Suply Chain & Logistics Tech 114On-Demand 126Food & Meal Delivery 137Geographic Trends 148US 149Canada 158Asia 166Europe 175LatAm 1838STATE OF RETAIL TECHWhat you ned to know about retail tech in 2021$109BRecord annual retail tech funding.Global retail tech funding boomed in 2021, pasing $100B for the first time, and more than doubling 2020s total.Dealsrose 25%.E-comerce and suply chain tech funding hit new records. In-store retail tech funding also nearly tripled as stores prioritized inventory management, payments, and shopper tracking tech.978%YoY jump in exits.976 companies exited in 2021. While M&A accounted for more than 90% of those exits, 91 companies exited via IPO or SPAC, triple the number in 2020.More than half of the IPOs were in e-comerce.Consumer-facing platforms led the way, including specialty marketplaces and direct-to-consumer brands.97Retail tech unicorns born in 2021.A record 97 companies hit a $1B+ valuation in 2021, nearly quadruple the number born in 2020 and accounting for half of the curent retail tech unicorn herd (192).The highest-valued new unicorns reach acros e-comerce, from marketplaces to social comerce platforms to delivery tech.$36MAnnual average deal size.71% higher than 2020.Average deal size skyrocketed in 2021.Huge late-stage rounds helped fuel the jump: the median size of late-stage rounds increased more than 150% to $85M as investors doubled down on growing companies in e-comerce anddelivery tech.291Number of mega-rounds.140% more than 2020.71% of annual funding came from ega-rounds of $10M+. These big deals flowed toward delivery tech, particularly for fod. Investors alsofuneled money to platfors and tols to enable faster and more efficient order fulfil ent.STATE OF RETAIL TECHWhat you ned to know about retail tech in 2021$43BAnnualfundingtoAsia.Mostworldwide.40% ofallretailtechfundingin2021wenttocompaniesinAsia. Big deals for grocery delivery companies drove the growth.Retailtechfundingwentmoreglobaloveral:EuropeandLatinAmericassharesoffundingincreased, while the US share declined.10$7BFundingtoLatAmretail tech in 2021,almost 7x morethan2020.Deals in LatinAmerica increased88% YoY to 177,as investorsfuneled moneyinto e-comerceand other tech todigitize retail in theregion. 67% of deals there were early-stage, pointing to the opportunity for continued growth and maturation in the markets retail tech landscape.184%YoY growth in e-comerce funding.Funding hit a record $54B.The biggest dealswent to back-endtech,includingpayments andbrand aggregators.But it was also a huge year for onlinemarketplaces, from marketplace tech enablement to platforms seling cars and beauty products.$20BRecord fod andmeal deliveryfunding.Funding to fod andmeal deliverycompanies almost doubled in 2021. Deals increased to, by 16%.US-basedcompanies share offunding31% ofthe total increased asultrafastgrocerydelivery, which promises orders in as litle as 10 minutes, exploded in the US.STATE OF RETAIL TECH41%More suply chain deals move mid-and late-stage.4 in 10 suply chain & logistics tech deals were later-stage in 2021, a bump from 30% in 2020.Supply chain chalenges throughout the year highlighted the advantages of scale, pointing investors to more mature and stable suply chain tech.Retail tech funding tops $10B for the first timeSTATE OF RETAIL TECH| GLOBAL TRENDS| INVESTMENT TRENDS$0.0B$20.0B$40.0B$60.0B$80.0B$100.0B$120.0B2015 2016 2017 2018 2019 2020 202111$109B2021132%increaseExits increase by 78%, with M&A the vast majoritySTATE OF RETAIL TECH| GLOBAL TRENDS| EXIT TRENDS2015 2016 2017 2018 2019 2020 202112976 total exits202178%increase97 retail tech unicorns were born in 2021 half of the current talyQ1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q42015 2016 2017 2018 2019 2020 2021STATE OF RETAIL TECH| GLOBAL TRENDS| UNICORNS & VALUATIONS13192 unicorns202152%increaseMega-rounds push average deal size 71% higherSTATE OF RETAIL TECH| GLOBAL TRENDS| INVESTMENT TRENDS2015 2016 2017 2018 2019 2020 202114$36M202171%increaseMega-rounds rise to almost 30 in 2021, a 140% YoY increase15STATE OF RETAIL TECH| GLOBAL TRENDS| INVESTMENT TRENDS0501001502002503002015 2016 2017 2018 2019 2020 2021291 mega-rounds2021140%increase202020212020202120202021202020212020202120202021All Other Regions Canada LatAm Europe US AsiaAsia receives $43B in funding, 40% of the global totalSTATE OF RETAIL TECH| GEOGRAPHIC TRENDS | ASIA TRENDS16$43B2021126%increaseSTATE OF RETAIL TECH| GEOGRAPHIC TRENDS| LATAM TRENDS$0.0B$1.0B$2.0B$3.0B$4.0B$5.0B$6.0B$7.0B2015 2016 2017 2018 2019 2020 2021Funding to retail tech in LatAmskyrockets to nearly $7B17$7B2021600%increaseE-comerce funding hits $54B, a new recordSTATE OF RETAIL TECH| COLECTION SPOTLIGHTS| E-COMERCE$0.0B$10.0B$20.0B$30.0B$40.0B$50.0B$60.0B2015 2016 2017 2018 2019 2020 202118$54B2021184%increaseFood and meal delivery funding doubles and US share expands19STATE OF RETAIL TECH| COLECTION SPOTLIGHTS| FOOD & MEAL DELIVERY$0.0B$5.0B$10.0B$15.0B$20.0B2015 2016 2017 2018 2019 2020 2021$20B202131%US share100%increaseSTATE OF RETAIL TECH| COLECTION SPOTLIGHTS| SUPLY CHAIN & LOGISTICS TECH2015 2016 2017 2018 2019 2020 2021Supply chain & logistics tech deals move later-stage as scale sels2032%increase41% deal share2021Global Trends202121Investment TrendsGLOBAL TRENDS | 202122Annual retail tech funding more than doubles and deals rise 25%23STATE OF RETAIL TECH| GLOBAL TRENDS| INVESTMENT TRENDS$35.9B$25.9B$43.9B$53.5B$49.5B$47.1BFunding$109.2B2,8892,9333,3283,6033,4443,214Deals4,02801,0002,0003,0004,0005,000$0.0B$20.0B$40.0B$60.0B$80.0B$100.0B$120.0B2015 2016 2017 2018 2019 2020 2021Retail tech funding and deals flaten in Q42124STATE OF RETAIL TECH| GLOBAL TRENDS| INVESTMENT TRENDS$9.1B$7.7B$10.6B$8.5B$6.7B$4.0B$7.1B$8.1B$7.3B$14.8B$11.1B$10.7B$14.4B$12.6B$12.2B$14.2B$17.6B$12.1B$11.1B$8.8B$8.9B$9.1B$11.1B$17.9B$25.0B$30.1B$27.4BFunding$26.6B6577047847447937277466677928128648608789989547738288848878458067328078699321,0191,059Deals1,01802004006008001,0001,200$0.0B$5.0B$10.0B$15.0B$20.0B$25.0B$30.0B$35.0B$40.0BQ1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q42015 2016 2017 2018 2019 2020 2021Global regional comparison Q42125STATE OF RETAIL TECH| GLOBAL TRENDS| INVESTMENT TRENDSAsia$10.8B398 DealsUS$9.9B294 DealsEurope$3.6B196 DealsLatAm$1.3B48 DealsAll OtherRegions$0.6B64 DealsCanada$0.5B18 DealsQuarterly funding declines in Asia, Europe, and LatAmin Q42126STATE OF RETAIL TECH| GLOBAL TRENDS| INVESTMENT TRENDS$3.2B$8.1B$9.9BQ1Q3Q1Q320202021US$4.1B$11.1B$10.8BQ1Q3Q1Q320202021Asia$1.5B$5.1B$3.6BQ1Q3Q1Q320202021Europe$0.0B$2.7B$1.3BQ1Q3Q1Q320202021LatAm$0.0B$0.1B$0.5BQ1Q3Q1Q320202021Canada$0.1B$0.3B$0.6BQ1Q3Q1Q320202021All Other RegionsAsia captures bigest share of global deals in Q42127STATE OF RETAIL TECH| GLOBAL TRENDS| INVESTMENT TRENDS40%41%37%37%40%40%38%35%35%34%36%34%36%35%34%38%36%33%34%30%34%31%34%31%33%30%28%US, 29%37%38%43%39%39%36%33%36%33%33%37%38%37%38%42%38%35%36%39%40%35%36%35%36%35%37%40%Asia, 39%18%15%15%18%16%18%22%23%26%26%20%20%20%19%17%19%22%21%19%21%24%24%21%24%22%23%20%Europe, 19%LatAm, 5%Canada, 2%5%5%All Other Regions, 6%Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q42015 2016 2017 2018 2019 2020 2021VCs stil lead quarterly deal share28STATE OF RETAIL TECH| GLOBAL TRENDS| INVESTMENT TRENDS38%36%37%35%33%35%32%33%31%33%32%34%32%30%31%36%32%32%32%33%31%33%33%32%32%31%30%VC, 29%12%12%12%16%14%14%12%14%13%13%10%10%10%9%9%8%10%10%10%10%10%8%10%11%10%12%12%Angel, 11%5%5%6%5%6%6%5%6%8%6%6%7%8%7%8%9%10%10%Aset/Investment Management, 11%5%7%8%8%7%6%10%7%9%9%10%10%10%11%11%9%8%8%10%10%10%9%9%9%8%9%11%Corp, 9%5%6%5%5%6%5%5%6%7%5%6%6%5%6%5%6%6%6%7%8%7%7%Private Equity, 7%5%6%5%5%6%6%7%6%7%5%6%6%6%9%9%8%7%9%7%8%7%9%8%8%7%9%7%CVC, 6%8%8%9%7%11%8%8%8%6%9%8%7%7%6%9%6%9%6%9%6%6%7%6%6%Incubator/Acelerator, 6%22%21%19%22%20%23%22%24%22%23%24%25%24%22%22%23%22%22%21%21%19%22%22%20%19%17%17%Other, 21%Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q42015 2016 2017 2018 2019 2020 2021Average deal size jumps by 71%29STATE OF RETAIL TECH| GLOBAL TRENDS| INVESTMENT TRENDS$16M$12M$18M$22M$21M $21M$36M$2M$2M$2M$3M$3M $3M$5M2015 2016 2017 2018 2019 2020 2021Average Size Median SizeAnnual median deal sizes increase around the globe30STATE OF RETAIL TECH| GLOBAL TRENDS| INVESTMENT TRENDS$2M$4M$6M2015201720192021US$3M$4M$6M2015201720192021Asia$2M$2M$3M2015201720192021Europe$1M$1M$5M2015201720192021LatAm$1M$3M$3M2015201720192021Canada$1M$2M$2M2015201720192021All Other RegionsMedian deal sizes soar for investment managers, CVCs, and PE31STATE OF RETAIL TECH| GLOBAL TRENDS| INVESTMENT TRENDS$2M$3M$4M2015201720192021Angel$24M$25M$46M2015201720192021Aset/Investment Management$8M$9M$16M2015201720192021CVC$10M$8M$13M2015201720192021Corp$13M$25M$43M2015201720192021Private Equity$6M$9M$13M2015201720192021VCMega-rounds explode to make up 71% of 2021 funding32STATE OF RETAIL TECH| GLOBAL TRENDS| INVESTMENT TRENDS$20.3B$13.6B$28.8B$33.3B$30.5B$28.2BFunding$77.7B70556299114121Deals291050100150200250300350400$0.0B$10.0B$20.0B$30.0B$40.0B$50.0B$60.0B$70.0B$80.0B$90.0B2015 2016 2017 2018 2019 2020 2021In Q421, mega-round funding holds steady, but deals slips33STATE OF RETAIL TECH| GLOBAL TRENDS| INVESTMENT TRENDS$5.9B$3.9B$5.4B$5.2B$3.4B$1.2B$4.0B$5.0B$4.2B$11.2B$7.0B$6.4B$9.3B$7.3B$6.8B$10.0B$13.1B$7.2B$5.7B$4.5B$4.5B$4.5B$6.5B$12.6B$19.2B$21.7B$18.5BFunding$18.3B1919248198131515161714222325293528262516232953717578Deals6701020304050607080$0.0B$5.0B$10.0B$15.0B$20.0B$25.0BQ1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q42015 2016 2017 2018 2019 2020 2021Global mega-round comparison Q42134STATE OF RETAIL TECH| GLOBAL TRENDS| INVESTMENT TRENDSAsia$8.0B29 DealsUS$6.8B25 DealsEurope$2.5B7 DealsLatAm$0.8B4 DealsCanada$0.2B1 DealAll OtherRegions$0.1B1 DealAsia leads Q421 mega-rounds globaly with 43% of total35STATE OF RETAIL TECH| GLOBAL TRENDS| INVESTMENT TRENDS25302521US, 2523253336Asia, 295141314Europe, 7247LatAm, 4Canada, 1All Other Regions, 1Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q42015 2016 2017 2018 2019 2020 2021Mega-rounds continue to represent 7% of al deals in Q42136STATE OF RETAIL TECH| GLOBAL TRENDS| INVESTMENT TRENDS6%8%7%7%Mega-rounds, 7%97%97%97%99%98%99%98%98%98%98%98%98%97%98%97%96%96%97%97%97%98%97%96%94%92%93%93%Non-mega-rounds, 93%Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q42015 2016 2017 2018 2019 2020 2021Mega-rounds account for two-thirds of all funding in Q42137STATE OF RETAIL TECH| GLOBAL TRENDS| INVESTMENT TRENDS64%50%51%61%50%30%56%62%58%76%63%60%64%58%55%70%75%59%51%52%51%50%59%70%77%72%67%Mega-rounds, 69%36%50%49%39%50%70%44%38%42%24%37%40%36%42%45%30%25%41%49%48%49%50%41%30%23%28%33%Non-mega-rounds, 31%Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q42015 2016 2017 2018 2019 2020 2021Global: Top equity deals in Q42138STATE OF RETAIL TECH| GLOBAL TRENDS| INVESTMENT TRENDSCompanyRound AmountRoundDateRound ValuationSelect Investors Country% of Total Funding1J&T Express$2.5BPrivate equity2021-11-25$20.0BBoyu Capital, Hilhouse Capital Management, Sequoia Capital China, SIG Asia Investments, Tencent HoldingsIndonesia 9.4%2Gorilas $1.0BSeries C2021-10-18$3.1BDelivery Hero, DST Global, Atlantic Fod Labs, Coatue Management, Dragoner Investment GroupGermany 3.8%2Thrasio $1.0BSeries D2021-10-25$10.0BAdvent International, Silver Lake, Oaktre Capital Management, PEAK6 Investments, RiverPark VenturesUnited States 3.8%4Flink $750MSeries B2021-12-01$2.9BBond, DorDash, Mubadala Capital, Prosus Ventures, REWE GroupGermany 2.8%5Nuro $600MSeries D2021-11-02$8.6BTiger Global Management, Bailie Gifford & Co., Fidelity Investments, Gaorong Capital, SoftBank GroupUnited States 2.3%6Heyday $555MSeries C2021-11-16$1.0BPremji Invest, The Raine Group, General Catalyst, Khosla Ventures, Victory Park CapitalUnited States 2.1%7Xiaohongshu $500MSeries E2021-11-08$20.0BTemasek, Tencent Holdings, Alibaba Group, Genesis Capital, Tiantu CapitalChina 1.9%8Faire $400MSeries G2021-11-16$12.4BD1 Capital Partners, Dragoner Investment Group, Durable Capital Partners, DST Global, Lightsped Venture PartnersUnited States 1.5%8Vuori $400MSeries C2021-10-13$4.0BSoftBank Group United States 1.5%10Bolt $393MSeries D2021-10-08$6.0BActivantCapital, General Atlantic, Tribe Capital, More Strategic Ventures, Soma CapitalUnited States 1.5%Retail tech continues to mature as deals slowly shift toward later-stage39STATE OF RETAIL TECH| GLOBAL TRENDS| INVESTMENT TRENDS69% 69%65%63%64%62%Early-stage, 61%13% 12%13%15%15%16%Mid-stage, 17%9%9%12%12%12%12%Late-stage, 14%9% 10%10%9%8%10%Other, 8%2015 2016 2017 2018 2019 2020 202123%32%29%61%40%42% 47%16%21%15%17%18%5%5%9%Early-stage Mid-stage Late-stage OtherAll Other RegionsCanadaLatAmEuropeAsiaUSHighest share of deals go to Asia-based companies acros deal stages40STATE OF RETAIL TECH| GLOBAL TRENDS| INVESTMENT TRENDSLate-stage median de