Prague-based startup Cruxo has secured €800,000 in funding from Czech VC funds Presto Ventures and Zaka VC. The funds will help develop a new source of high-margin revenue for retailers, the retail media.
- Founded in 2022 by by a group of advertising and retail industry veterans, Cruxo enables retailers to boost revenues and profitability. It does to by employing data, targeting, and native formats in one platform.
- The platform can provide higher return on investment when it comes to sales promotion. This also means higher sales and profit for both the suppliers and the retailers. According to Cruxo, it already excels in pharmacy, and is gaining expertise in fashion and electronics industries.
“Globally, brands are investing hundreds of billions of dollars a year to boost their visibility. As customers increasingly shift into the online environment, so do some of these budgets, and there is a need for a quality e-commerce solution to manage these spaces. We recognize this need on a global scale, so we started building Cruxo to help vendors increase their brand visibility in online stores, with a positive impact on their virtual shelf. For retailers, we bring increased profitability and a greater shopping cart value,”
Michal Trunkát, CEO of Cruxo, comments.
- Apart from earning the trust from its first clients, Cruxo managed to secured investments from two Czech VC funs Presto Ventures and Zaka VC. Presto Ventures is a Prague-based investment company empowering talented CEE startup founders. And Zaka VC is a pre-seed and seed family venture house, which recently invested in a UK-Slovak company Sensible Biotechnologies.
“The growing trend of retail media networks and Cruxo’s proposition have been well confirmed through our group’s expertise in the retail, media, and marketing sectors. What Amazon and Walmart started a few years back in the US, Cruxo now brings as a comprehensive proposition to the rest of the e-commerce players and retailers,”
Andrej Petrus, Chief Investment Officer of ZAKA VC, comments.
