The RX Ventures, Corporate Venture Capital (CVC) fund of Lojas Renner S.A., announced a strategic investment in Topsort, a startup based in Silicon Valley, California, specialized in digital media solutions for retail using artificial intelligence. This is the fifth investment of the fund, reinforcing your commitment to innovation and the continuous improvement of the consumer experience, in addition to generating new business opportunities for the sector
The decision to invest in Topsort was made after a detailed market analysis by RX Ventures and Lojas Renner. The choice for the startup is due to its functionality, simplicity and scalability of your solutions. Lojas Renner believes that the partnership will allow for a deeper understanding of the evolution of digital media and its possible applications in retail
The investment was made in a Series A round at the beginning of this year, led by Upload Ventures, with the participation of the managers Pear VC and Quiet Capital, who were already investors in Topsort. This contribution is aligned with RX Ventures' thesis of investing in technologies that shape the future of retail
"We are the first retailer specialized in fashion and lifestyle in the world to invest in Topsort", what reaffirms our commitment to driving the transformation of the sector. This movement has a strategic and long-term purpose, as it will allow us to closely follow the new trends in retail media and understand how it can, in the future, help us develop new promising business fronts, commented Daniel Santos, Financial Director and Investor Relations of Lojas Renner
Francisco Larrain, CTO of Topsort, also highlighted the importance of the partnership: “This movement marks the beginning of a joint journey of innovation in retail media. We are happy to join a partner with extensive industry knowledge and close ties to startups in different areas. The Brazilian market is full of opportunities and we are committed to empowering local retailers with our scalable and accessible technology. Our goal is to democratize advertising in a post-cookie era. This is an important step to boost our mission in Brazil.”
Founded in 2021, Topsort is led by co-founder Regina Ye, Michael Ostrovsky and Francisco Larrain, who have extensive scientific knowledge and are global references in media for retail. The startup's solutions are already used in more than 30 countries, serving clients like Poshmark, Cencosud, Oeschle, Liverpool, Sodimac and Wayfair
Daniel Santos added: "Just as Topsort has valuable technical knowledge to be shared, we know that Lojas Renner is also capable of actively contributing to the startup, using your brand strength and experience in omni operation. There are numerous synergies that can be explored from this partnership, with benefits for all retail.”
With this investment, Renner Stores S.A. and Topsort are starting a collaboration that promises to transform the digital media landscape in retail, bringing innovations and new opportunities to the Brazilian market
