Novel TMT returned to help the third-party e-commerce operator, with more than 25 brands in its stable, hike its 2021 funding to $317m.
US-based third-party e-commerce seller Elevate Brands received $250m in funding on Monday from investors including Novel TMT, the investment vehicle for telecommunications firm Novel Group.
The round also featured investment firm FJ Labs, undisclosed existing backers and private investors including Sean Glass, Forrest Li and Ted Zagat.
Elevate Brands uses big data technology to pinpoint successful sellers on Amazon’s e-commerce marketplace, acquire them and enhance their product sales. Its current portfolio incorporates more than 25 consumer brands.
The company had…
