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Swyft Raises Additional Funding
Through acquisition and organic development, Swyft has developed a significant patent portfolio associated with contactless shopping from unattended stores utilizing mobile technology
FREMONT, CA: Swyft, a San Francisco, CA-based global leader in unattended retail, raised an additional funding round of undisclosed amount.
The round was led by Defiance Ventures. In addition to the funding, Tareq Amin, co-founder of Defiance Ventures, is expected to join the board of Swyft. The company plans to use the funds as working capital to continue to grow in the US market.
Led by Gower Smith, CEO, Swyft is a software and data analytics platform that provides retailers and brands the tools to build an automated retail presence. It gives consumers a convenient buying experience and location partners, such as airports and property managers, increased desirability. The company has multiple additional Fortune 100 clients in development for launch by early next year.
Through acquisition and organic development, Swyft has developed a significant patent portfolio associated with contactless shopping from unattended stores utilizing mobile technology.
Swyft is also the parent company of ZoomSystems, a large automated retail store operator.
"We're excited to announce our partnership with Defiance Ventures," commented Gower Smith, CEO of Swyft. "The Defiance principals bring relevant experience in building growth SaaS businesses and can help us further implement AI in our platform where it will most benefit our clients. Our family office and private investors should be recognized for funding our company to a point where we have meaningful revenue and can deliver for our clients at an accelerated pace."