Silicon Road Ventures announces $31m close of fund

Silicon Road Ventures announces $31m close of fund

Published: 02-03-2021 15:58:00 | By: Pie Kamau | hits: 963 | Tags:

Silicon Road Ventures today announced the close of its $31 million fund focused on commerce tech. Silicon Road invests in US-based technology startups ranging from seed to series A across e-commerce, retail and CPG. Silicon Road's primary focus areas include: in-store retail & shopper tech, multi-channel commerce, supply chain & logistics, and fintech & payments.

Founded in 2019 and based in Atlanta, Silicon Road Ventures is a vertical fund exclusively focused on commerce tech. Last year, Silicon Road invested in ten startups in the United States, and aims to invest in around thirty more by 2023 from fund 1. By investing in startups all over the US, Silicon Road's mission is to build a community and accelerate innovation taking place across the commerce tech category. Now more than ever, technology innovation is at the forefront of e-commerce, retail and CPG industries due to shifting landscapes and accelerated timelines driven, in part, by the pandemic.

Silicon Road looks to help the portfolio companies beyond the check through their signature "Corporate Connect" program. This key differentiator increases value for Silicon Road's portfolio companies.  Silicon Road connects corporations looking for innovation with relevant startups and research to create mutually beneficial situations for participating corporations, startups, and LPs in Silicon Road.

Silicon Road's Retail Sandbox Program also gives portfolio companies real world opportunity to launch with a retailer to test their technology through a joint venture with Citizen Supply, a highly curated marketplace located in Atlanta's emerging shopping destination Ponce City Market. Citizen Supply embraces tech innovation and portfolio companies can test-and-learn to gather data and insights as shoppers browse the latest small brands and artisan goods.

Silicon Road's Founder and Managing Partner, Sid Mookerji, has decades of experience in the e-commerce, retail and CPG innovation space. Prior to Silicon Road, Mookerji founded Software Paradigms International Group, LLC (SPI), an award winning full-service global technology solutions partner of choice for retailers worldwide. SPI was one of the first retail IT companies and offered a full suite of products aimed at improving retailer's omni-channel strategy. SPI's prominent clients included Macy's, Walmart, Carrefour, Groupon and NAPA.

Alongside Mookerji, Silicon Road's Managing Director and Partner, Ross Kimbel, brings to the table years of early-stage venture capital experience stemming from his time as Co-Founder of venture capital fund Be Curious Partners and Global Director of Innovation and Entrepreneurship at The Coca-Cola Company. Ross co-founded Coca-Cola Founders, a seed stage venture arm that partnered with experienced entrepreneurs to solve some of the company's biggest growth opportunities, giving him a unique perspective of the benefits of highly curated engagements between portfolio companies and major retailers and brands.

In addition to Silicon Road's team, Silicon Road leverages the expansive knowledge and expertise from its team of Advisors across venture capital, startups, enterprise, entrepreneurship and digital innovation in the global commerce space.

Silicon Road's current portfolio includes: PerchToucan AIWeStockSoftWear AutomationPatronPull LogicTurnSymTrainEveryware, and Wripple.