Welcome Dent Reality, Govalo, and Novel Commerce, Sugar Capital Fund I Final Close
Dear Sugar Capital Community,
Please join us in welcoming three new companies to our portfolio: Dent Reality, Govalo, and Novel Commerce. See below for more on each.
A big congratulations to Builder.io and to Violet on closing their recent rounds of funding. Sugar Capital is proud to have participated in both.
We are thrilled to announce the final close of Sugar Capital Fund I at $25M in total capital.
Please see below for more details and updates and visit sugarcap.com to see our full portfolio.
Portfolio News
AirRobe The Iconic introduces a new sustainable way to shop - Yahoo!
AirRobe Analysis: Resale fashion businesses are attracting billions in capital and transaction value - Ragtrader
Builder Builder.io aims to make developers happy with its no-code approach to digital storefronts - TechCrunch
Brightland The Most Delicious Gifts For All The Foodies On Your List - Forbes
Cake - Wellness Watch: Generation Sexual Wellness - WWD
Cake - Can Walmart Become a Major Beauty Player? - Business of Fashion
Caraway- Caraway Just Launched A Must-Have Bakeware Collection That’s Sure To Sell Out - Forbes
Clyde - Clyde Raises $41M To Deliver a Comprehensive Product Lifecycle Platform for Merchants and Their Customers - Business Wire
Fast - Fast Launches Headless Checkout, Enabling Consumers to Buy Instantly, Anywhere - Business Insider
Fast - This Stripe-backed startup wants to bring one-click checkout to the rest of the web - Fast Company
Govalo - Once a holiday staple, gift cards are now viewed as a stop gap for inventory shortages - Modern Retail
House of Wise - Meet the House of Wise Strength Gummy: CEO Amanda Goetz shares the story behind the product - House of Wise
Snif - Scented Candles Dropped today - Get on the Waitlist Now! - Snif
Violet - Violet Raises $10M Series A Led by Klarna, with participation by Sugar Capital, Lachy Groom and Red Sea Ventures - Violet
Industry News
Why PayPal may be considering a mega-deal for Pinterest - MSN
Facebook is planning to rebrand the company with a new name - The Verge
Saks E-Commerce Unit Begins IPO Preparations - WSJ
Online holiday sales to grow 12% in 2021, DC360 projects - DC360
DTC Briefing: After a year-plus of disruptions, the e-commerce startup playbook has changed - Modern Retail
Sugar Capital News
Over the past month we welcomed Dent Reality, Govalo, and Novel Commerce to the Sugar Capital Portfolio!
Also this month we held the final close of Sugar Capital Fund I with a total fund size of just over $25M. Thank you all for your partnership over the past year as we have been raising our first fund, deploying capital, and supporting our founders.
Dent Reality is the digital layer for the physical world. The company's technology allows for easy digital mapping of any physical space (think grocery stores, amusement parks, convention centers, malls, airports, etc) coupled with accurate positioning technology, and an AR interface. Sugar Capital participated in Dent Reality's Series Seed Funding round, which was led by Pi Labs.
Govalo is a gift card solution for Shopify merchants that allows customers to customize and send gift cards directly to their recipients. The Govalo solution also allows recipients to look up their gift card balances and provides an analytics dashboard to merchants. The company just launched earlier this month and is available for download in the Shopify app store. Sugar Capital led Govalo's Series Seed round.
Novel is a no-code platform for NFT commerce. Novel’s first product is a Shopify plug-in that gives brands and creators the ability to create and sell NFTs within their existing store or a brand new one. Novel is being incubated by Brian Sugar, John Cowgill, and CEO Roger Beaman. Sugar Capital made the initial investment into Novel alongside Costanoa Ventures.
