Dropit is a retail technology platform whose core business is helping brands sell in-store inventory online. In other words, the company is turning brick-and-mortar stores into local distribution centers where customers can place orders online, and Dropit will use its “smart retrieval” technology to find the closest store and warehouse to customers and schedule scheduling accordingly. Dropit recently announced that it has raised $25 million in Series C financing, hoping to help brands integrate online and offline sales channels, manage inventory scheduling, and bridge the digital divide to reduce costs and increase efficiency. This round of financing was led by Vault Investments, with participation from Tiga Investments, Axentia, Sugarbee and former Macy CEO Terry Lundgren.
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