The Rounds Raises $24 Million in Series B

The Rounds Raises $24 Million in Series B

The Rounds, a New York-based AI-driven inventory management platform that delivers recurring grocery and household essentials in reusable packaging, has raised $24 million in a Series B funding round.

The round was led by Moderne Ventures, bringing The Rounds' total funding to $66 million.

Moderne Ventures is a strategic venture capital firm with over $500M in assets under management and a 16-year track record of top-tier returns. The firm focuses on technology companies in key industries such as real estate, finance, insurance, and sustainability. Moderne stands out by connecting its portfolio companies with a network of over 1,500 industry executives and corporations through its Fund and Industry Immersion Program, Moderne Passport, fostering growth and innovation. To date, Moderne has invested in over 150 companies across three funds.

The company will use the funds to scale its service in existing markets, expand its team, and launch new markets.

The Rounds is an AI-driven shopping platform designed to manage home essentials and reduce packaging waste intelligently. The company operates on a closed-loop supply chain model, sourcing products locally and in bulk, then delivering them to members on a scheduled basis via a proprietary two-way last-mile logistics network. For $10 a month, members can automate the delivery and replenishment of thousands of grocery SKUs. The platform offers predictive recurring deliveries and smarter product recommendations over time. Launched in 2019, The Rounds has expanded to serve Philadelphia, Washington D.C., and Atlanta.

Funding Details

Company: The Rounds

Raised: $24.0M

Round: Series B

Funding Date: August 2024

Lead Investor: Moderne Ventures

Additional Investors:

Company Website: https://www.therounds.co/

Software Category: Delivery and Inventory Management