The Rounds secures USD 24 million for delivery platform

The Rounds, a platform for recurring deliveries of household items in reusable containers, has closed a $24 million Series B financing.

New York, August 2024 - The Rounds, a platform specializing in sustainable logistics, has closed $24 million in Series B funding. The round was led by Moderne Ventures and brought the company's total funding to $66 million. With this investment, the company plans to further expand its AI-driven platform and accelerate its profitable growth trajectory in existing markets. The funds will also be used to expand the team in the areas of machine learning, data science and leadership. Since the last funding round, The Rounds has increased revenue six-fold, opened a state-of-the-art facility in Washington D.C. and launched new products and sustainable packaging options.

AI delivery platform business model

The Rounds ' business model is based on a closed-loop supply chain: household and food products are delivered to members in reusable containers, and empty containers are collected, cleaned and reused. Thanks to AI-supported predictions, the company offers intelligent automation for recurring purchases and personalized product recommendations. In addition to optimizing delivery processes, The Rounds relies on local suppliers and is continuously expanding its product portfolio.

The Rounds solves a major problem for city dwellers by enabling the replenishment of household items with less waste and greater efficiency.

Partner with Moderne Ventures

The company also plans to build strategic partnerships with property managers to further increase its presence in urban areas. The Rounds is expanding its Board of Directors to provide strategic support for further growth. New to the board is Professor Gad Allon, an expert in operations and technology at the Wharton School of Business and Director of the Management & Technology Program at the University of Pennsylvania. Professor Allon brings deep expertise in scaling tech companies and operational efficiency. "The Rounds demonstrates how technology and innovative logistics solutions must work together to establish sustainable growth models in the last-mile sector. I look forward to joining the board and supporting the company on its mission," explains Allon.