Optoro Raises $7.5 Million of Series A Funding
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Lanham, Maryland – Optoro, an inventory system providers which focuses on asset recovery for retailers, manufacturers and resellers has raised $7.5 million of series A funding led by Grotech Ventures. The investment was also backed by existing investors SJF Ventures and QED Investors.
The market is demanding more liberal return policies, which is changing the economics for retailers,” said Lawson DeVries, a general partner at Grotech Ventures and new Optoro board member. ”
The new funding will be used to accelerate the company’s growth and also to gather more customers with their flagship product OptiTurn. The new fund will also be used to develop Optoro’s own ecommerce site blinq.com.
Funding Total: $7,500,000
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|Investors: Grotech Ventures, SJF Ventures, QED Investors|